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not just technically superior, but superior for its license. PNG came up after Unisys started trying to screw the world over GIF.
PNG works in most browsers out there, IE 5.0, Mozilla, Netscape 4. i think the problems come up with how well its supported in each. IE, of course, doesn't support them fully (i think in the alpha channel).
if all you're doing is looking to replace your GIFs with PNGs, you'll be fine. if you're looking to replace your JPGs with PNGs, .. i think that'd be inadvisable. and if you're looking to take advantage of PNG-specific features, test your sites in as many browsers as you can and maybe deliver content based on the Agent string.
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