SAB Background Slide Show is a VB.NET application that let's you select images to be shown as a wallpaper slide show:

Add Selects images to be added to the list.
Up/Down Moves one or more highlighted rows up or down in the list.
The list can also be reordered by clicking on File Name or File Date to sort the list.
Remove Removes one or more highlighted rows from the list.
Save Saves the contents of the list.
Set Sets the file listed in a selected row as the background wallpaper.
Start Starts a background thread that shows each image as background wallpaper for the number of minutes in the Duration column using the wallpaper style from the Style column.
Edit\
Options
Set the default values for Style and Duration used when added images to the list.
Control whether or not power saving can blank the display and whether or not the screen saver will be blocked from starting.
Check for Updates  replaces the ClickOnce Optional Update Available GUI with one that one that times out and continues with the currently installed program after ten seconds.

Get the current version here.