I'm going to have to butt in here, and say that JPEG>BMP. PNGs are the best, JPEGs are good when you have a huge image that doesn't need quality, and bitmaps are good when you want your upload site to make JPEGs of your pixel art, which is far too large in filesize to BE pixel art.
[/rant]
Good plugin, time to try a new kind of shading....