I stumbled upon a Yahoo developer's Firefox's extension called
smush.it!. What this extension does is analyze whatever web page is currently loaded and lists all the images and shows what could use some further compressions. I figured my website's homepage was pretty optimized before hand (as I use 'Save for web' in Photoshop and do my best to optimize my images beforehand). Turns out that smush.it! could
shave nearly an additional 7k off of the images!
The screen shot in the link shows what Yahoo's other extension
Yslow's stats show for my homepage before and after smush.it image compression, as well as a screenshot over at smush.it!, which displays the images on the page and which can be compressed even further. I ftp'ed those new images (smush.it! provides the newly compressed images as a nice little down loadable zip file) and replaced my current home images (save for one.. I got a .png back instead of a gif.. so I'll update that one soon) and rechecked the stats.. yep.. about 6k was shaved. I cannot tell the difference visually between before and after versions of my homepage. While 6k is not monumental by any stretch, imagine the savings on sites that receive large traffic.
For you firefox users out there, you first need to download and install
firebug. Then install smush.it!
A very nice way to squeeze even more optimizations out of your site.

Nice going Yahoo! Time for me to check my other pages now!
Cheers,
NRG