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Although the author of this file has remained anonymous as far as I can tell, a special thanks goes to Maverick100 for pointing this out to me. I couldn't find it on IWN Forums for the life of me. Anyway, it works perfectly for converting IWI images to DDS, so if you're an aspiring CoD2 skinner, you'll definitely want to download this now! In order to use it, all you have to do is drag the IWI file onto the program, and a DDS file will come out just right.
Drag the .iwi file (one at a time only) onto "iwitodds.exe".