At this writing, all three formats (GIF, JPEG, and PNG) are useful in different situations with PNG-8 becoming a better choice for simpler graphics than GIF, since it offers more transparency and compression options. Trusty old JPEG is still the best for smaller files and faster downloads. At broadband surfing speeds JPEG can rival PNG-24 quality when you set a higher quality level in Photoshop for your JPEG images.
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Good you mention that 8-bit PNGs are better compressed than GIF. Overall your decision that it's overall more economical to stick to GIF is slightly coloured (haha) by the fact that your site graphics are entirely monochrome, and the transitions don't work so roughly. When you have one colour above an indeterminate other, transparent GIFs edges will look nasty.