Acouple of days ago  Smashing Magazine released  Sigyn SM — a free high-quality Magento theme created by Silverthemes.com especially for Smashing Magazine readers. The theme has a unique grungy design that stands out and can serve as a good baseline for your Magento-powered online shops.

Download the Magento theme for free!

Are you searching fro a free Magento e-commerce theme full of cool features. Richer Designs released a new free Magento theme.
Download Free Magento e-Commerce Template here.

• SEO Mods: Main page content appears before the Column, Footer & Header blocks.
• Lightweight CSS Menu: Root categories listed in the header (as above).
• Site-wide Footer Links:: Specify links to the various areas of your site (as below).
• Designed using Magento version 1.1.6.

Organic is a beautiful Wordpress template.

You can test it here and download it here.