I’m not sure if this is new in Leopard but I just discovered it. You can significantly shrink the size of PDF files using Preview.
To do this open the PDF in Preview. Select “Save As…” from the File menu. In the dialog that appears you will see a pop-up menu labelled “Quartz Filter”. Choose “Reduce File Size” and when you save the PDF it will be much smaller than the original.
There is some image quality loss so be sure to keep a copy of the original in case you aren’t happy with the results.
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