it could be a number of things, with object transparency you really have to tweak the settings until you get something that looks right...
things to try,
1) There are many different flags for the set object transparency command, try using
set object transparency objid, 2
or
set object transparency objid, 3
...
and so on up to 6 (or 5, not sure, but go to 6 to be safe... if you go higher than that it doesn't change anything)
see if any of those give a better result
2) It's possible that DBPro is unintentionally ruining your nicely outlined blackness with it's mip mapping... try loading up the texture like this
load image "mytexture.whatever", imageid,
1
(also try tweaking the set object transparency flag again after you've added the flag to the load image)
also... in your texture, it's best if you leave the edges clear cut and harsh, because as far as i know DBPro won't bother to apply the smooth fade off at the edges... or if it does, it looks ugly when you put one transparent object infront of another... (which i think is happening with your axe)
good luck!
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