Is there a well-known way (or perhaps reusable bit of code) for pixel-perfect collision detection in XNA?

I assume this would also use polygons (boxes/triangles/circles) for a first-pass, quick-test for collisions, and if that test indicated a collision, it would then search for a per-pixel collision.

This can be complicated, because we have to account for scale, rotation, and transparency.

**WARNING:** If you're using the sample code from the link from the answer below, be aware that **the scaling of the matrix is commented out for good reason.** You don't need to uncomment it out to get scaling to work.