pngquant is a batch conversion utility to quantize and dither truecolor PNG images, especially those with a full alpha channel, down to "RGBA-palette" PNGs (i.e., PLTE + tRNS in PNG parlance). Such images are usually two to four times smaller than the full 32-bit versions, and partial transparency is preserved quite nicely. This makes pngquant especially useful both for Web sites and for PlayStation 2 development, where one of the texture formats is RGBA-palette-based (though not PNG-compressed).
Multicrush is a wrapper around pngcrush that distributes the work of brute-force compressing a single image over several pngcrush processes. This gets you a slightly less than a linear speedup, caused by different compression methods having slightly different durations. For example, the author has measured a speedup of 1.92 on a 2-core Intel T5300, and 3.86 on a 4-core Intel Q6600. The only requirements are a copy of pngcrush and at least Python 2.4. If you have version 2.6 or higher, multicrush can automatically detect how many CPUs to use.