ArtOptimizer is LinkOptimizer for Adobe Illustrator. If you familiar with my LinkOptimizer for InDesign then you already know what ArtOptimizer does (with some exceptions, see below) and how to use it

ArtOptimizer is a utility for Adobe Illustrator that reduces the size of linked images by eliminating excessive image data. It will automatically reduce the image resolution and scale the images in Photoshop according to their dimensions in the Illustrator document and the target resolution specified, and reimport them to Illustrator at 100%. It also lets you automatically convert image colors and apply Photoshop sharpening filters.

ArtOptimizer is a standalone application. It processes the current frontmost document of Illustrator CS or CS2.

Illustrator provides much more limited information about its documents than InDesign, which leads to several differences between LinkOptimizer and ArtOptimizer:

• ArtOptimizer won't crop the images,
• users will need to make sure there're no modified links in Illustrator
• ArtOptimizer won't check the link status,
• only the following image formats are supported:
  • Illustrator CS2 - EPS, TIFF, PSD, JPEG,
  • Illustrator CS - EPS, PSD.