What is being said about JPEG2000:
Ria Groenewald provided the following: Although JPEG2000 really is fantastic not all computers are equipped to read the format. The 100% quality (lossy mode) means a 80% compression which is in fact a 20% loss in quality. 48 bit colour is unrealistic at this moment as the most images are still processed at 24 bit, I would love to do it at 48 bit but that will only be a bit of an over-kill resulting in a large file (for us here in Africa struggling with storage space). PSD is not an option at all, and will always be converted to a classical format i.e. TIFF, JPeg, PNG etc which is interoperable formats.
Regardless of the above I want to stress the fact that I do not think that we are far away from the tipping point where we will start working in Jpeg2000. But having said that, the latter format has been in existence for some time now and could not push the “ancient” TIFF format aside which made me think that TIFF is still the best to rely on when it comes to digital preservation of images.
For more information, please refer to Photozone’s analysis