JPEG compression of the left and right components of a stereo image pair is a way to save valuable bandwidth when transmitting stereoscopic images. This paper presents results on the effects of camera-base distance (B) and JPEG coding on overall image quality, perceived depth, perceived sharpness, and perceived eye strain. In the experiment, two stereoscopic still scenes were used, varying in depth (three different camera-base distances: 0, 8, and 12 cm) and compression ratio (4 levels: original, 1:30, 1:40, and 1:60). All levels of compression were applied to both the left and right stereo image, resulting in a 4 × 4 matrix of all possible symmetric and asymmetric coding combinations. The observers were asked to assess image quality, sharpness, depth, and eye strain. Results showed that an increase in JPEG coding had a negative effect on image quality, sharpness, and eye strain, but had no effect on perceived depth. An increase in camera-base distance increased perceived depth and reported eye strain, but had no effect on perceived sharpness. Results on asymmetric and symmetric coding showed that the relationship between perceived image quality and average bit rate is not straightforward. In some cases, image quality ratings of a symmetric coded pair can be higher than for an asymmetric coded pair, even if the averaged bit rate for the symmetric pair is lower, than for the asymmetric pair. Furthermore, sharpness and eye strain correlated highly and medium, respectively, with perceived image quality.