PNG or GIF?

I have absolutely no idea where to ask this question, so I've come here for help. I like to make sprites, but I've been saving all of them in the GIF format. It has come to my attention that PNG can also do transparencies and animations, but I can only save my animations in GIF anyway (I use Jasc Animation Shop). If this is all painfully obvious to you guys, I'll just say sorry in advance, but I've just had to learn as I go.

Anyway, I have tested both formats out, but the only difference seems to be file size. Which format is best for saving transparencies? I've tried to read up on the differences, but every single god damn article is in crazy nerd talk, so it tends to go over my head at times. I hope someone might respond here.

>>7
Adobe tard. PNGs are way smaller than GIF files, except if your image editor sucks. Don't rely on Adobe Photoshop to save PNGs. Use Paint Shop Pro, or use the wonderful PNGOUT.EXE (works fine under Wine too) to reduce your files until it can't save 0.125 bytes, that's right, 1 bit. For example:

Santa1.jpg, A.I. Love You colour page, 660×896, reduced to 256 colours for faGIF.
GIF size: 234403 bytes
PNG size: 190107 bytes

logo.gif, Google's logo, 276×110, 256 colours.
GIF size: 8858 bytes
PNG size: 7729 bytes

master.png: Master for a digital photo, 3072×2304, 24 bpp.
GIF size: ??? PROFIT oops