I previously discussed a command-line tool for generating image tiles. I've updated the tool to include an additional parameter for image format. Usage is as follows, and the tool is available for download:
C:\tilegen /?
Generates a directory of tiles from a source image equirectangular projection
TILEGEN [drive:][path]filename level [/S=size] [/D=directory] [/F=filename] [/I=image]
[drive:][path]filename Soure image
level Level of detail (0-based)
/S=size Size of tile, default 256px
/D=directory Directory format, default level{0}
/F=filename Filename format, default {col}_{row}
/I=image Image format (JPEG, PNG, TIFF), default JPEG (Compression=90)
Note that the source image is not scaled so must be correct level and size,
i.e. width (px) = 2 * 2^level * size, height (px) = 2^level * size
C:\>