x86obf is now a free and public project. There are no limitations on number of blocks and number of instructions you can protect.
What is x86obf? x86obf is a tool for executable binary protection. It works by locating marked code blocks of code and converting them to a series of instructions understood only by a randomly generated virtual machine in order to make reverse engineering harder.
x86obf currently supports only 32bit PE files (EXE and DLLs, kernel drivers are not yet supported).
Please note that not all x86 instructions are virtualized yet and there may be bugs - please report if you find any.
The instructions on how to use and a sample project are inside the archive.