I need to compress portions of our application\'s network traffic for performance. I presume this means I need to stay away from some of the newer algorithms like bzip2, wh
Your compression algorithm depends on what your trying to optimize, and how much bandwidth you have available.
If you're on a gigibit LAN, almost any compression algorithm is going to slow your program down just a bit. If your connecting over a WAN or internet, you can afford to do a bit more compression. If you connected to a dialup, you should compress as much as it absolutely possible.
If this is a WAN, you may find hardware solutions like Riverbed's are more effective, as they work across a range of traffic, and don't require any changes to software.
I have a test case which shows the relative compression difference between Deflate, Filtered, BZip2, and lzma. Simply plug in a sample of your data, and test the timing between two machines.