Thales007: In regards to compression quality, what is the setting on the ArcGIS 1:100 scale that produces a 20:1 or 10:1 compression for jp2, or jpeg? I assumed it was 100 divided by the compression desired (e.g. 100/20 or 5 gives a 20:1 compression) but the jp2 file sizes ArcGIS produces do not match with those of GeoExpress which states compression in terms of 10:1, 20:1 etc. I assume they use different algorithms and there is some variation in jp2s, but at least in my latest work the GeoExpress setting produced the expected compression and ArcGIS's was noticeably less. This was using ArcGIS 10 beta 2 in a direct conversion rather than a rectification.
Marcinjz: It does seem that this newer version of ArcGIS produces jp2 much faster than 9.3 (it is able to use multiple cores during this conversion) and the resulting jp2s work better in ArcMap, but I haven't tried to objectively prove it. I don't know what version of ArcGIS you are using but my 9.3 just didn't seem to do well with that file type.