Inspired from :
Fit an image within a Rectangle [] in Graphics
I would like now to fit an image within a Rectangle[] with rounded edges as shown in the example below :

Is it possible ?
Inspired from :
Fit an image within a Rectangle [] in Graphics
I would like now to fit an image within a Rectangle[] with rounded edges as shown in the example below :

Is it possible ?
Using pieces from the linked answers, and Heike's code:
Text piece:
txt1 = Take[ ExampleData[{"Text", "LoremIpsum"}, "Lines"], {1, -1, 2}][[1]] // StringTake[#, 330] &; Image piece:
pic = Import["http://dailytechgadgets.files.wordpress.com/2011/02/old-ferrari.jpg"]; And Heike's code for rectangles:
rec[ll_, ur_, pic_] := Module[{crop, boxrat}, boxrat = #2/#1 & @@ MapThread[Abs[#2 - #1] &, {ll, ur}]; crop = ImageCrop[pic, Transpose[{ImageDimensions[pic]}], AspectRatio -> boxrat]; Inset[crop, Min /@ Transpose[{ll, ur}], {Left, Bottom}, Abs[ur - ll]]] and Heike's code again for putting all together -- just adding RoundingRadius to rectangle objects and commenting out lines that produce lines--:
Graphics[{EdgeForm[{Thickness[0.005`], Black}], FaceForm[White], Rectangle[{0, 0}, {160, 90}, RoundingRadius -> 4], FaceForm[Darker[Gray]], Rectangle[{0, 0}, {80, 63}, RoundingRadius -> 4],(*code for picture*){rec[{80, 0}, {160, 63}, pic], FaceForm[Opacity[0]], Rectangle[{80, 0}, {160, 63}, RoundingRadius -> 4]},(*code for text*) Inset[Pane[ Style[txt1, 12, TextAlignment -> Left], {Scaled[1], Scaled[0.75`]}, Alignment -> Center, ImageSizeAction -> "Scrollable"], {0, 8}, {Left, Bottom}, {78,67}], Flatten[Transpose[{Flatten[(Table[ RandomChoice[{GrayLevel[0.15`], c0[[#1]]}], {3}] &) /@ Range[2, 4, 1]], MapThread[ Function[{Xs, Ys}, Rectangle[{Xs, Ys}, {Xs + 16, Ys + 9}, RoundingRadius -> 4]], {Flatten[Table[Range[0, 32, 16], {3}]], Flatten[(Table[#1, {3}] &) /@ Range[63, 81, 9]]}]}]](*,{Black, Thickness[0.005`],Line[{{0,63},{159,63}}]}*)}, PlotRange -> {{0, 160}, {0, 90}}, Method -> {"ShrinkWrap" -> True}, ImagePadding -> 2, ImageMargins -> 0, ImageSize -> 500] produces:

You need further refinements to clean up. In particular, the image needs to be masked with a rectangle with rounded corners.
EDIT: For masking an image with a round-cornered reactangle, play with the parameters of Rectangle in
pic2 = ImageAdd[ pic, Graphics[{Black, Rectangle[{2, 1}, {4, 2}, RoundingRadius -> .2]}]] Update: For better masking using SetAlphaChannel and better handling of image size (Thanks: @ssch and @Jens)
roundImage[img_, r_] := Module[{dim = ImageDimensions[img], sr}, sr = Max[dim]*r; SetAlphaChannel[img, Graphics[{White, Rectangle[Scaled[{0, 0}], Scaled[{1, 1}], RoundingRadius -> sr]}, Background -> Black, PlotRangePadding -> 0, PlotRange -> {{0, 0}, dim}\[Transpose], AspectRatio -> Automatic] ]] roundImage[img_, r_] := Module[{dim = ImageDimensions[img], sr}, sr = Max[dim]*r; SetAlphaChannel[img, Graphics[{White, Rectangle[Scaled[{0, 0}], Scaled[{1, 1}], RoundingRadius -> sr]}, Background -> Black, PlotRangePadding -> 0, PlotRange -> {{0, 0}, dim}\[Transpose], AspectRatio -> Automatic] ]] $\endgroup$ You can also use Framed to frame e.g. Text elements in your graphics, which also takes the RoundingRadius option. The size of the resulting rounded frame is depending on the text (or other) element.
A quick´n dirty version of your theme could be:
Framed[Row[{Framed[Style[Text[" $ "], 40, Bold, Magenta], RoundingRadius -> 5], " "}], RoundingRadius -> 5, FrameMargins -> -1] 
or within a Graphics context:
Graphics[Text[ Framed[Style["Hello!", RandomReal[{2, 20}]], RoundingRadius -> 10, Background -> Directive[Hue[RandomReal[]], Opacity[RandomReal[]]]], #] & /@ RandomReal[{0, 1}, {50, 2}], ImageSize -> 480] 
RoundingRadiusas an option inRectanglelikeGraphics[Rectangle[{0, 0}, {2, 1}, RoundingRadius -> 0.3]]. $\endgroup$