I've made a procedure to rotate an image in PowerDraw using
a rotation point.

Code:
procedure RotatePoint(var Graph: TPowerGraph; var Image: TAGFImage; X, Y, RotationX, RotationY, Angle: Integer; Effect: Cardinal);
var
  _SrcX,_SrcY: Integer;
begin
  _SrcX := (Image.PatternWidth - RotationX) * -1;
  _SrcY := (Image.PatternHeight - RotationY) * -1;
  Graph.RotateEffect2(Image,X,Y,Angle,Image.TextureWidth,_SrcX,_SrcY,Image.PatternWidth*2,Image.PatternHeight*2,0,Effect);
end;