in regards to text.
Are you talking about a photo that has text in it (like you took a picture
of a sign or something)
Or are you using the photoshop text feature?
If you are working with the PS text feature...there will always be some
slight blurriness when you jpg or giff or bmp it.
It all depends what dpi you are working at....as well your the pixel
dimentions of your piece.
IF you are working with relatively small fonts (12 pt)...and not using any
"text styles" in photoshop..i would work import my jpg (or what have you)
into another program (powerpoint, indesign, quark, illustrator or
coreldraw)...and work with my text there.
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"A hedge between keeps friendship green" 
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