There is a whole list of Raster to Vector software here
http://en.wikipedia.org/wiki/List_of_raster_to_vector_conversion_software
Potrace is free and quite good.
"Potrace(TM) is a utility for tracing a bitmap, which means, transforming a bitmap into a smooth, scalable image. The input is a bitmap (PBM, PGM, PPM, or BMP format), and the default output is an encapsulated PostScript file (EPS). A typical use is to create EPS files from scanned data, such as company or university logos, handwritten notes, etc. The resulting image is not "jaggy" like a bitmap, but smooth. It can then be rendered at any resolution.
Potrace can currently produce the following output formats: EPS, PostScript, PDF, SVG (scalable vector graphics), DXF, PGM (for easy antialiasing of pixel-based images), Gimppath, and XFig. Additional backends might be added in the future. "
http://potrace.sourceforge.net/
(but you will have to georeference your vector data (DXF) afterwards) then convert to shapefile or geodatabase.
Have had mixed success with ArcScan - dependent on the original quality of the raster scan and noise.