Very good results
Like others I am having great results with JPEGmini in saving space while preserving image quality. I tested the lite version on a batch of 20 images taken from a recent trip with my iPhone 4S. The images which were taken and stored on the iPhone were around a couple megabytes a piece. JPEGmini reduced them to somewhere near 900k on average. However, images taken with an older Canon point and shoot were only reduced by 75k or so. Images exported from various photo editing and paint programs on my Mac have results similar to the iPhone shots. This tells me that there may be a lot of wildly varying degrees of image optimization out there on different devices and software and Apple could really improve the storage of pics on iOS if it wanted. (I eventually did my entire collection of pics from my trip and 5.7Gb turned into 2.3Gb.)
The second part of my test was to take the original unoptimized versions of pics and overlay the JPEGmini version to look for differences. As I turned the layers on and off I couldnt detect anything that I couldnt chalk up to imagination. Next I inverted the color of JPEGmini version and reduced the opacity to 50% (while on a normal blend mode) which when over the original basically washes out to flat gray but anything different between the two will show up. I still couldnt make out any difference in the all gray image so I went ahead and merged the layers and began repeatedly pumping the contrast and reducing the brightness. After three rounds of this I had a dark almost black image which just showed some of the differences in compression artifacts and the general outlines of the objects in the scene. With that I was satasfied that whatever it is doing I am okay with it for the space savings, and I purchased the full version. Ive now cleared up over 15Gb of space and I am still working on it.
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JPEGmini Lite