It depends on a variety of factors.
What version of Word and Powerpoint.
How the graphics were added to the files
The type of the graphic and its attributes
Whether you need to end up with files primarily for on screen viewing, for email attachment or for printing (and if printing at
what quality level).
Word and Powerpoint have features to 'compress' the graphics or remove duplicate copies from the file (Word sometimes stores more
than one format for different uses) and the Office 2007 file formats are, in general, more compact than the prior versions.
==========Can ppt and doc files (with photos) be compacted? <<
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Bob Buckland ?

MS Office System Products MVP
*Courtesy is not expensive and can pay big dividends*