I was confused for a moment: Imagemagick and graphicsmagick are different, http://blog.trackduck.com/2014/11/12/imagemagick-vs-graphics...
Regardless, whether it's my incompetence or imagemagick itself, I don't have very good associations with the library.
As I understand it some of the IM features are important for scientific image processing, HDRI or deep processing pipelines where rounding errors could accumulate.