Maybe. TRy it and see, you have nothing to lose (as long as you back up your
pictures first!). IT may be that erasing pictures has over time left small
gaps that cannot be reused for pictures without a reformat.
Also not all pictures are the same size, so it might also depend on what
sort of pictures you took. Maybe pictures with a lot of similarity (say a
lot of blue sky or whatever) might compress more than pictures with lots of
detail?