You might try comparing 200dpi to 300dpi first. I've yet to see anything that you can see any significant difference in when printed out between 200 and 300 dpi. [And that's a print from a commercial color laser printer, not my home inkjet thing]
That will save some space if your paper looks OK both ways.
And I guess my next question is which file size are you looking at? The PSPIMAGE file will always be huge ... especially on something like that.
By the time you merge all the layers and make a *copy* of the paper as a JPEG, it'll be a good deal smaller. I'd start with a 10 percent setting for compression and go up in 1 step increments until you can actually see any degradation. Then bounce it back a notch, and call it quits.
With no JPEG compression at all, I *can* see a 300 dpi highly textured paper being 15 megs.
But remember to *always* save your final .PSPIMAGE layered file somewhere, too. In case you ever need a different size or make a change to it, use that. You don't want to use an already compressed JPEG to compress again, no matter how good it looks.
PhotoshopCS2 and PSPX are my weapons of choice. Plus I can do three things in DIP, and one of them is running the program