GIFs, only use 256 colors - with some exceptions, while JPGs have 16 million colors. Most graphics can be either, and browsers can view either. Patch - Check the links. Those non-local links you once had may have changed. If they have, and are vital to your site, find the new link and patch it.
Few things undermine credibility more than a broken link.
Purge - Face the fact that some things that seemed a good idea at the time are passe' now. Prune the link like you would a rose bush to make a stronger, better and more beautiful site. Finally, include the hosting ISP charges and Internic fees if any. The last thing you and the customer want is a surprise over unexpected costs. You have expenses and overhead to pay.