In this paper, we investigate different approaches for multi/hyperspectral image compression. In particular, we compare the classic multi-2D compression approach and two different implementations of 3D approach (full 3D and hybrid) with regards to variations in spatial and spectral dimensions. All approaches are combined with a weighted Principal Component Analysis (PCA) decorrelation stage to optimize performance. For consistent evaluation, we propose a larger comparison framework than the conventionally used PSNR, including eight metrics divided into three families. The results show the weaknesses and strengths of each approach.