JFIF has emerged as the de-facto standard on Usenet. JFIF is simpler than TIFF and is available now. Whether this will have much impact on real-world files remains to be seen. Many implementations of JPEG are available. The algorithm is being included in a number of DTP packages which handle images.
Sharp edges tend to come out blurred.
Furthermore, JPEG needs at least about 16 grey levels before it is useful for grey-scale images. G.K. The JPEG Still Picture Compression Standard.