I'm looking for the ability to have good compression levels (lossy) with alpha 
channel.  

I believe the options are:

        JPEG2000
        BPG http://bellard.org/bpg/
        WebP https://developers.google.com/speed/webp/?hl=en

Christian, any interest in adding one or more of these to MBS?   I believe that 
BPG is supposed to be open source (but is still in beta).  WebP is also 
open/free (I think)

Based on this demo, BPG looks really good to me:
        http://xooyoozoo.github.io/yolo-octo-bugfixes/#mascot&jp2=s&webp=s


Thanks

Mike
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