Originally Posted by Music Lover
Memory is cheap. There is no reason to compress photos to save space.
For 500 or so photos (or even many more), I'd agree.
But just as a point of reference, a while back I finally got through a project of transferring ~ 30 hours of Mini-DV video tapes to a computer. I could do a massive amount of compression on those (10~30x IIRC) and I couldn't see any degradation (just family videos, content more important than quality).
Yes, memory is cheap, but these files were so massive, I'd need to dedicate an entire drive to them, and making a backup would take all day, versus a few hours.
Smaller file sizes can be about convenience as well, especially when quality just isn't that big a deal.
For my music files, only lossless FLAC format. I sometimes make a compressed copy for a portable player or casual use.