Version 2.0 is much improved, and Image XY now warrants a review and an excellent rating. The new "Advanced Resize" feature allows me to resize to a different format and to set the image quality. Too bad this feature is only available from the menu -- I would like an "Advanced Resize" button at the bottom of the Image XY window, next to the standard "Resize" button.
Image XY's big advantage over other similar apps is that it preserves the colour profile of the image, rather than assigning the monitor profile to the image as most other apps do. I rated Image XY 4.5 stars instead of 5 stars because the dev still won't allow users to edit the built-in presets, which for my needs are useless. Hint: You can edit or delete them by hacking around in the plist file.