The wartermarked pics have more comression(The board has to generate a new file after watermarking). but that's ok. I people want full quality, they'll have to register  
I think that's ok but we'll need a better watermark, our URL i.e.

I made it ... That's ok, you make it with someting that reminds to register   in order to see the picture without watermark and uncompressed       ...

I stumbled into the watermark viewing an image before logging in; I think it is a good idea, and should work out well.

Good job Tormie!