1. A method for reducing and reconstructing multi-bit grayscale image data, comprising: reducing the grayscale image data from a first multi-bit depth to a second multi-bit depth, wherein the reduction is a multi-bit halftoning process that uses a halftone screen, and the first multi-bit depth is greater than the second multi-bit depth; storing the reduced grayscale image data in a memory, transmitting the reduced grayscale image data over a communication channel, or both; reconstructing the reduced grayscale image data to the first multi-bit depth without visible loss to image quality while preserving edge features in the grayscale image; and sending the reconstructed grayscale image data to a printing device accepting grayscale image data.