Elements can make Garamond look at least fairly grand.

Photoshop Elements ($79.99, www.adobe.com) has rudimentary effects such as Flag, Fish, Arch, and Wave, each configurable via sliders. To use an effect, select Elements' type tool and type some text, then select Layer > Type > Warp Text, and knock yourself out-the text remains editable until you simplify (or rasterize) the layer (Layer > Simplify Layer). If you'd rather try something with way more options and way less stability, we just discovered ChocoFlop (free alpha, www.chocoflop.com), which lets you apply Mac OS X's Core Image filters directly to your text. If you go this route, be warned, ChocoFlop is a work in progress, currently at alpha status-meaning it's not even beta yet-so it might crash at any time, taking with it the stylized logo that you just blew the last two hours tweaking.