From the MC guestbook...

Quote Originally Posted by Matt Mahoney
Jan Ondrus has released paq8fthis3 which further improves JPEG compression. Some tests with -7

652,244 a10.jpg.paq8f (24.1 sec)
661,310 a10.jpg.paq8o (25.4 sec)

494,379 ohs.doc.paq8f (124 sec)
512,724 ohs.doc.paq8o (174 sec)

Compression is otherwise the same as paq8f (not as good as paq8o, but faster). In the next PAQ version (I dont know when) I will include the new JPEG model.

paq8fthis3 is here: 3

Also I updated the link to PeaZip to mention it supports paq8o and lpaq1.
Mirror: Download

Thanks Jan, and Matt!