I would like some input here on file formats if anyone would like to spend a couple of minutes answering here. Please indidcate if you are a Mac or Windows user since this will help determine what may be popular for crossover.
I personally save all my artwork in three file formats using a Windows XP, O/S.
1) Native format of program artwork was created in, this helps for going back to edit or other changes, layers stay in tact.
2) BMP as a sort of master copy and when possible for hard copy printing. This file format does not loose any quality of the digital image. One draw back is files can eat up a lot of memory space.
3) JPG for e-mail, or web page design, and any other situation where memory space is limited.