I have a 32 bit PNG representing a blue square in the middle of a transparent square. Below I displayed this blue square with three different opacity values:

From left to right, the opacity is 1, 0.5, and 0.1, and as you can see (if you can't, just trust the Photoshop eyedropper), the area around the blue square is transparent only in the left image.
Here is the same image with color values:

I know that this is barely visible, but I would like to know what came of it. Plus with some images and background, contrast is more noticeable.
Thanks!
EDIT: Here is my VS solution for those who want to try at home: http://www.mediafire.com/?gt704e62d53z7ae
Rodolphe
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