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Ewww image optimizer is a very useful plugin. While it probably can’t reduce the size of already optimized jpeg files dramatically, in my experience it mostly reduces the size with 10-15 percent, and everything counts.
The REAL space saver is the easy way to disable creation of thumbnails you don’t use. Many popular themes creates 15-20 additional thumbnails, for instance for portfolios, and if you don’t use those features, it’s worth trying the “Disable Resizes” feature of ewww – I’ve cut the size of my uploads folder in half that way.
Furthermore Ewww offers to automatically scale those 7000×5000 pixel images uploaded by your ignorant co-workers 😉
The settings pages can be a bit confusion, especially since several premium settings are shown (but disabled), but spending some time learning how ewww works is really worth it…