I put this onto my own site straight away to test it out, as I’m using shared hosting at the moment, and I want to reduce page load times as much as I can. It seems to work just fine. The module requires no core patches, and also includes an interface for file exceptions, as TinyMCE (natch) causes the module to fail.
Theming purists should maybe note the issue I filed here, which clears up a problem with having to add unnecessary PHP into the page.tpl.php file. It looks like this will get sorted and patched fairly soon, though [Edit: that’s fixed]. This is another great way to speed up Drupal page load times!