Anyone played with djvu?
 

Yes, it requires a viewer (albeit the viewers are free and
multiplatform), but the results seem impressive, it outperforms jpg and
pdf, and it's an open format with an open source implementation
(djvulibre) as well as commercial ones.

http://www.djvuzone.org/djvu/photos/...u01/index.html

It seems widely adopted by online libraries for manuscripts and also
was adopted by the internet archive for their 'million book project'.

http://www.djvuzone.org/links/index.html

You can download djvulibre from http://djvulibre.djvuzone.org/ for unix
systems or if you use windows/macosx you can get the native free ones
from lizardtech.