Thanks Netdewt, I do stand corrected. I should not have linked GIF and JPG as the same lossy format. The link was informative, and not being real hands on with GIF files, I've always assumed they were JPG’ish. Image formats that I deal with most are NEF and JPG - NEF because they are lossless, and JPG because the format is widely used. You just can't share NEF files like you can JPG....
A NEF is even another animal. It's a RAW file, it can't be edited; it's like a digital negative. All it contains is the sensor information from the camera - no pixels. Best analogies I can think of:
RAW audio --> NEF, CR2, DNG
WAV, AIFF --> TIF using no compression
FLAC, ALAC --> TIF using ZIP/LZW compression
MP3, AAC --> JPG
24-bit audio scaled to 8-bit then saved as a FLAC/ALAC --> GIF (silly right?)
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