Audio plugin developer Oli Larkin has introduced Autotalent - a free pitch correction application for Windows and Mac:
This is a VST/AU port of Tom Baran's open source pitch correction LADSPA plug-in. All credit goes to Tom for the algorithm. At the moment it is designed to be used on a mono track, if used on a stereo track, the left channel will be copied to the right.
Pricing and Availability
Autotalent is available now for Mac AU/VST & Windows VST. Source code is available.