I put together a quick tutorial on how I optimize images for the web using Photoshop. Many forums, for example, restrict the image dimension size and file size allowed. Here's how I do it to keep the image quality while still being at an acceptable dimension and file size.

An action can be made to automate the process for all your images you want to place on the web. I hope it makes sense and that you enjoy it.

(Sorry about the cheap mic and my popping P's)