Not sure what the objective is, but using the "before" example 475kb lena pic, a subsequent jpg at 61k looks very close to the original, and much better than the 61k blurred png.
There is a reason why jpg has survived the test of time. It delivers a good balance of quality, performance, and is well supported. Challengers like JPEG 2000 have not gained much traction because jpg gets the job done.
http://en.wikipedia.org/wiki/JPEG_2000
There is a reason why jpg has survived the test of time. It delivers a good balance of quality, performance, and is well supported. Challengers like JPEG 2000 have not gained much traction because jpg gets the job done. http://en.wikipedia.org/wiki/JPEG_2000