There are others too, like Art Effect.
I saved the clown.pic from PPaint with Art Effect, there are compression levels from 0 to 9 in it.Tried to save the clown.pic example from PPaint in PNG format (compression level default 6) and here is the result:
PPaint PNG (6) - 46272 bytes
PPaint PNG (9) - 46252 bytes
Loaded the file and saved in PNG from ImageFX and Hollywood and here is the interesting part:
ImageFX PNG - 106489 bytes
Hollywood PNG - 102389 bytes
ArtEffect PNG (0) - 192662 bytes
ArtEffect PNG (6) - 106532 bytes
ArtEffect PNG (9) - 106029 bytes