Ha ha... Not bad, right?
Of course, the algorithm is not PERFECT, but it is pretty good for DC purposes, I think (it does not dither, only smoothing out, which is good for us). Perfectionists will want to do some further touch-ups, but otherwise, it is a pretty good quick-fix.
(I used it to do my mobat icon (I think?), based on the normal-sized large bat icon, with some other shrinkage and lots of touch-up, of course.)