Nothing wrong with png. I use them myself on my non submitted stuff like inside of member areas. It is the default format of screen grabs on a Mac so it makes life easy for me. That being said the file size seems to be bigger then using jpg. Would be nice for doing stuff requiring transparence but fucking IE gives them grey backgrounds so I use gif which doesn't look as good but has transparence with everything.
Haven't tried using png in submitted stuff in years but years ago when I did some scripts rejected my stuff because of them. I don't know if this is still the case.
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