Set the Picture property of ReportDefinition PictureObject at runtime
This was possible with Crystal 9 using the read/write FormattedPicture property at runtime - the equivalent property with Crystal 2008 is read only??
The functionality you were using to change the picture and font at runtime was the format events of the Report Design Component (RDC).
Visual Studio .NET does not support events in the same way and Crystal Reports 2008 no longer includes the RDC.
The only way to make changes to the structure of the report now is to use the Report Application Server (RAS) functionality.
Changing the Picture object at runtime has gotten simpler and that is not necessary. Here is an article that describes how to change the location of the OLE Object at runtime. (It overcomes an issue in a Web application but the same method will work in a Windows application.)
By creating a Graphic Location on a formula field in the report designer, you just need to pass in a new formula with the correct path at runtime and the new object will display.