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I prefer Yahoo! YSlow Smush.it [1] which does this for you online.

[1] http://www.smushit.com/ysmush.it/

ImageOptim can be configured to reduce the size by a lot more than any of the online tools will. If you're on a Mac, there's no reason to use anything other than ImageOptim and ImageAlpha[1].

[1] http://pngmini.com

Wow. Never knew about ImageAlpha. Thanks for the link.

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