So I took a PNG from wikipedia:
221.0kb (its actually 215 KB or a little more than 220,000 bytes) to a claimed 47.8 KB (really 46.7 KB). Nice!
Running PNGGauntlet, a lossless compression app, with the same file compressed nothing. Wise wikipedians must have already done that.
But the results from tinypng look awful. Here you can flip between the original and the compressed:
http://upload.wikimedia.org/wikipedia/commons/4/47/PNG_trans...