One advantage of ICO files is that they support multiple image sizes in a
single file. Combined with a specific colour palette, they offer a more
compact way of storing image resources for your project.

However, there are downsides. They are more tricky to edit and due to the
specific colour palette (and unless you're an expert at manipulating these
files) generating a new ICO file can be tricky.

My question is this:
* You only had one image size to support, say 64x64
* You are not overly concerned with the small additional disk space
requirement (about 13kB for a BMP compared with 6kB for the ICO)
Are there any disadvantages with converting my project resources to a BMP,
24-bit version? Is there anything in the ICO file that is NOT captured by
converting it into a 24-bit BMP?

The advantages to me are ease of creating new and editing existing images.
Specifically not having to worry about colour palettes all the time for
these very small files is a big bonus. But I don't want to throw away all
these existing ICO files unless I'm sure its ok to do it.

Thanks,
Alain