A new version of PNGGauntlet is now available as well as a new version of PNGOut which it requires, and maybe it's just me, but I'm absolutely unable to reduce the bit depth anymore and always end up with 24 bit colors even if the image has less than 256 colors. JonLeung, you'd better try it out before adopting it completely just in case.
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Current projects: Ristar-The Shooting Star (Gen), Sonic The Hedgehog (Gen), Sonic CD (Sega CD), Mega Man Zero (GBA), Battletoads (NES), Bucky O'Hare (NES)