Optimize cocos2d-x game's size

Hi,
We are in the point to finish our first app (iOS universal app), but we have one problem, which is the size of the app. we are using a lot of PNG images (iPhone, iPhonehd, iPad, iPadhd) and a lot of MP3 sounds.

My question:
Is there some tips to reduce the app’s size (Images and Sounds)? Are PNG/MP3 the bests formats fo Images/Sounds?
For images, perhaps one solution is to use scaling with code, but I don’t know if it’s a good solution?

Thanks!

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How about pvr.ccz format for images?

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