I could be mistaken, but that would only allow you to add one more PictureBox, then you would get an error saying that a control with the name "picNew" already exists...

I've been adding them this way.... Then I can add as many as I needed to.....

Code:
Private Sub Command1_Click()
Dim X As Integer
  X = picNew.Count
  Load picNew(X)
    With picNew(X)
      .Left = X * 100
      .Top = X * 100
      .Visible = True
    End With
End Sub
The only problem I've had with this is that you already have to have one PictureBox on your form at DesignTime with the "Index" property set to "0"....