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Originally Posted by Sociable
True if you need to preserve very high quality for future printing etc but can be ideal for sending a copy of the latest snaps of "Junior" to auntie flow in OZ. 
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Then you're still better off using a jpeg. a 1600 x 1200 full colour image (from your average 2.1 megapixel digital camera) if saved as a full sized 256 colour gif will end up around 700k, a 40% compressed jpg (which is still better quality than the gif) will be less than 300k.
Below is an example (pictures courtesy of my local beach

) the jpg is around 20k .. the same picture saved as a gif is 162k