How to loop through files and rename using PowerShell?

I would like to rename all the jpg files in a folder to uniform convention like Picture00000001.jpg where 00000001 is a counter.

It would be a walk in the park in C# but I would think this is the kind of bread and butter stuff that PowerShell was made for.

I'm guessing something like

$files = ls *.jpg
$i=0
foreach($f in $files) { Rename-Item $f -NewName "Picture"+($i++)+".jpg" }

But before I hit the gas on this I would like to 1) format the counter, and 2) have some sense that this is in fact even a good idea.

If this sounds more like OCD than a good idea please speak up.