I have a LaTeX document with 4 images in it. I tried with PNGs (optimized with PNG Gauntlet: Total filesize 3.85 MB) and got a PDF with a filesize of 9.14 MB, which is getting rather large. I resaved the PNGs as JPEGs (Total filesize: 2.26 MB) and the PDF's filesize plummeted to 2.38 MB, barely larger then the images. I'd show the images, but I can't show them to anyone until publication, sorry.
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texdoc pdftex)? Interlaced PNGs require uncompressing them, which might be the cause of size increase. – egreg May 20 '15 at 22:55