The Disruptive Library Technology Jester has a link from here (http://dltj.org/article/jpeg2000-survey/) to a survey being carried out by David Lowe, Preservation Librarian at the University of Connecticut. Chapter 3 in the Lesk textbook is on “Images of Pages” and chapter 4 on “Multimedia Storage and Retrieval,” so people who are interested in collections of digital images may want to investigate this. The DLTJ post also has links below to some related posts/discussions of JPEG2000.
I’ve never been much of an image person myself (despite having taken art classes in high school and as an undergrad) and so my understanding of the different image file types is pretty minimal. I think this is probably an area I need to read up on, at least a little bit. Ideally digitized images would be faithful to the original, have a small file size, and bear metadata as part of the file – but I suspect it’s a case of “choose any two of the three”.