[url=http://www.balesio.com/fileminimizerpictures/eng/index.php:149nym2e]balesio's FILEminimizer Pictures[/url:149nym2e] has gone free.

FILEminimizer Pictures helps you reduce the size of images, photos and pictures while maintaining the original file format and quality.

Features (as per the developer):
[quote:149nym2e] * JPEG file compression by up to 98% - reduce your JPEG files from 5MB to 0.1MB in size.
* Other supported file formats: BMP, GIF, TIFF, PNG and EMF images and pictures.
* Keeps the original file format - simply edit, view and change it without the need to unzip.
* Batch Process: Compress whole digital photo albums and galleries at once.
* "Drag & Drop" files directly into FILEminimizer Pictures to optimize several files at once.
* 4 different compression levels to choose the most adequate compression level.
* Pack & Go: optimize your images and pictures and directly send them via email
* Facebook integration: compress your photos and upload them directly to Facebook.
* Search Wizard: find and compress pictures, images and photos on PCs and networks.
* Advanced settings for lossless compression, handling of EXIF information, etc.
* Fully compatible with Windows 7.[/quote:149nym2e]
I'll add to the above:
* No longer overwrites the original files.

There's a link to a "How it works" video on the main page.
It goes without saying that the level of compression will vary among the supported file formats.

Please notice that I'm not sure if it's 64bit compatible.

No registration is required.