We have SharePoint 2010 running on a SQL 2008R2 server (not sure if that's relevant). There are many, many picture libraries that have driven the database size to close to 120GB. I've written a utility that will resize all of these pictures to about 20% of their original, so it will free up a huge amount of space. For the purpose of reducing our online backup bill, I'd like to reclaim much of this space but I've been reading about the performance costs of SHRINKing the database.
If I SHRINK most of the space but leave a large percentage free will that eliminate the fragmentation problem associated with it? ...or is there maybe a better strategy for my problem?