I use following .htaccess to set gzip compression:
AddOutputFilterByType DEFLATE text/html image/png image/jpeg text/css text/javascript
Please check this url: http://www.coinex.com/cn/silver_panda/proof/china_1984_27_gram_silver_panda_coin/
the gzip compression works for html, css, js and jpg, but not working for png (really amazing..)
PNG is already a compressed data format. Compressing it with GZIP is not likely to decrease the size, and can in fact make it larger.
I'm surprised you're seeing benefits when GZIP-ing JPGs, as they are also compressed.
See here for Google's tips on using GZIP. They recommend not applying it to images.