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Add to SafariReview of ImageOptim powered by the Slant community.
ImageOptim is a simple compression utility that crushes PNG, GIF, and JPEG images losslessly for web usage.
For alternative OS X losseless image compressors, see here.
SpecsUpdate
Question Ranking
Pros
Pro Losslessly compresses PNG, GIF, and JPEG images
Great for compressing images for web usage or saving harddrive space.
Pro Fast & Simple
Pro Simple drag'n' drop interface
Simply drag images (or folders) into the window.
Pro Tries several different image optimizers before picking the best one
Pro Edits files in place
It does edit files in place, overwriting the original. This is exactly what I want, so I love it, but it's good to know beforehand.
Pro Can handle PNG, GIF, and JPEG images
Great for compressing images for web usage or saving harddrive space.
Cons
Con Compression algorithm not as good as counterparts
Con Cannot abort an optimization
Optimization can run for a long time. Sometimes it reaches 20% quickly and then spend a long time to attain 21.2%. But you cannot interrupt the process.
Con Does not work on SVG yet
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