You can give a try to the free "toonel.net" software. (to be installed from
www.toonel.net)
Its a java software so you need the JRE on your computer (to be installed from here:
http://java.com/en/download/)
The toonel software uses a proxy and you can set the compression rate for pictures yourself (or just disable them in the browser).
In the attached screenshot you can see a short test - I loaded some news websites and had about 65% compression rate including pictures, flash and advertisement banners.
Chris