Q:

What is the "best" way to create a thumbnail using ASP.NET?

Story:  The user uploads an image that will be added to a photo gallery.  As part of the upload process, we need to A) store the image on the web server's hard drive and B) store a thumbnail of the image on the web server's hard drive.
"Best" here is defined as 

Relatively easy to implement, understand, and maintain
Results in a thumbnail of reasonable quality

Performance and high-quality thumbnails are secondary.

A:

GetThumbnailImage would work, but if you want a little better quality you can specify your image options for the BitMap class and save your loaded image into there. Here is some sample code:
Image photo; // your uploaded image

Bitmap bmp = new Bitmap(resizeToWidth, resizeToHeight);
graphic = Graphics.FromImage(bmp);
graphic.InterpolationMode = InterpolationMode.HighQualityBicubic;
graphic.SmoothingMode = SmoothingMode.HighQuality;
graphic.PixelOffsetMode = PixelOffsetMode.HighQuality;
graphic.CompositingQuality = CompositingQuality.HighQuality;
graphic.DrawImage(photo, 0, 0, resizeToWidth, resizeToHeight);
imageToSave = bmp;

This provides better quality than GetImageThumbnail would out of the box

A:

I suppose your best solution would be using the GetThumbnailImage  from the .NET Image class.
// Example in C#, should be quite alike in ASP.NET
// Assuming filename as the uploaded file
using ( Image bigImage = new Bitmap( filename ) )
{
   // Algorithm simplified for purpose of example.
   int height = bigImage.Height / 10;
   int width = bigImage.Width / 10;

   // Now create a thumbnail
   using ( Image smallImage = image.GetThumbnailImage( width, 
                                                       height,
                                                       new Image.GetThumbnailImageAbort(Abort), IntPtr.Zero) )
   {
      smallImage.Save("thumbnail.jpg", ImageFormat.Jpeg);
   }
}

A:

Using an example above and some from a couple of other places, here is an easy function to just drop in (thanks to Nathanael Jones and others here). 
using System.Drawing;
using System.Drawing.Drawing2D;
using System.IO;

public static void ResizeImage(string FileNameInput, string FileNameOutput, double ResizeHeight, double ResizeWidth, ImageFormat OutputFormat)
{
    using (System.Drawing.Image photo = new Bitmap(FileNameInput))
    {
        double aspectRatio = (double)photo.Width / photo.Height;
        double boxRatio = ResizeWidth / ResizeHeight;
        double scaleFactor = 0;

        if (photo.Width < ResizeWidth && photo.Height < ResizeHeight)
        {
            // keep the image the same size since it is already smaller than our max width/height
            scaleFactor = 1.0;
        }
        else
        {
            if (boxRatio > aspectRatio)
                scaleFactor = ResizeHeight / photo.Height;
            else
                scaleFactor = ResizeWidth / photo.Width;
        }

        int newWidth = (int)(photo.Width * scaleFactor);
        int newHeight = (int)(photo.Height * scaleFactor);

        using (Bitmap bmp = new Bitmap(newWidth, newHeight))
        {
            using (Graphics g = Graphics.FromImage(bmp))
            {
                g.InterpolationMode = InterpolationMode.HighQualityBicubic;
                g.SmoothingMode = SmoothingMode.HighQuality;
                g.CompositingQuality = CompositingQuality.HighQuality;
                g.PixelOffsetMode = PixelOffsetMode.HighQuality;

                g.DrawImage(photo, 0, 0, newWidth, newHeight);

                if (ImageFormat.Png.Equals(OutputFormat))
                {
                    bmp.Save(FileNameOutput, OutputFormat);
                }
                else if (ImageFormat.Jpeg.Equals(OutputFormat))
                {
                    ImageCodecInfo[] info = ImageCodecInfo.GetImageEncoders();
                    EncoderParameters encoderParameters;
                    using (encoderParameters = new System.Drawing.Imaging.EncoderParameters(1))
                    {
                        // use jpeg info[1] and set quality to 90
                        encoderParameters.Param[0] = new System.Drawing.Imaging.EncoderParameter(System.Drawing.Imaging.Encoder.Quality, 90L);
                        bmp.Save(FileNameOutput, info[1], encoderParameters);
                    }
                }
            }
        }
    }
}

