I hate TGA images for one reason: their alpha channels. Every time I make a new scope for my gun, I have to manually "draw" the alpha channel to fit the actual image.
For example:

The Alpha channel is from my old scope. The normal channel is what I want the Alpha channel to look like. Is there an easier way to getting these Alpha channels instead of manually drawing them? I hate using the selection tools because they cause harsh edges, and as you see this scope has a "lens glare" in it along with a smooth edge around the side of the scope.