This is what I do when I save for web (mind you, most of my photos are from my iPhone, so not the best quality in terms of that, but they aren't grainy):
Flatten layers
Resize to 700px
Unsharp Mask: 300-500%, threshold: 0.2%
Image/Adjustments/Vibrance - bump up to 5
Save for Web: optimise for file size 245kb
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