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Gif's are good for animation and stuff but the quality sucks pretty bad for non moving images.
It's actually good. As a matter of fact, you can control how graphic should look in a GIF format, basically making sure that your created graphic match the capabilities of the GIF format and it will, of course, look brilliant. If your graphic were originally for higher capabilities than GIF, and when you converted that graphic to GIF, it will look bad.
For sigs and avatars, I prefer GIF than PNG because PNG uses more memory.
PNG and JPEG are not that of a big difference execpt in some situations, but generally even if there was, it's quite subtle to see it.