http://www.digital-web.com/articles/web ... ivity_png/
Nice article on what each one does best and how to determine which image format to use for different portions of different projects. Real nice read. A bit long, but chock full of good examples and good insights.
Also check out the author's page http://jeffcroft.com/ because there are some awesome web-dev (not just design) articles and blogs there too.
GIF versus JPEG versus PNG: The Real Skinny
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