Inscape is designed to be a professional graphic app to create illustrations, logos, diagrams, icons, maps and web graphics.
The goal was to create an Open Source (free) app to compete with expensive programs including Adobe Illustrator, CorelDRAW, and Xara Xtreme. It has a simple, uncluttered interface while still have a lot of features.
Some of the many things it can so, just to cover it, in brief, include drawing, text, embedded bitmaps, clones, object manipulation, transformations, Z-order operations, grouping objects, layers, alignment and distribution commands, fill and stroke, color selector, color picker, copy and paste, gradient editor, pattern fills, dashed strokes, path markers, node editing, boolean operations, rendering, alpha transparency, command-line options, and so much more.
Version History for Inkscape: http://wiki.inkscape.org/wiki/index.php/Release_notes/0.91
Limitations: Requires a program like 7-Zip or WinRar to open.