I love this app for simplifying the HFS+ compression process. I don't think they really paint an accurate picture of the reasoning behind filesystem compression, however, and I worry that people will just think 'hey, awesome new compression!'
You should not use this to save disk space for the sake of saving disk space. You should pretend like everything is the same size it always was. Finder, thankfully, does this for you. The purpose behind filesystem compression is to shrink files for the sake of improved performance. Hard drives are (relatively speaking) slow, the real bottleneck of system performance. Modern processors are fast enough that decompressing a small file on the fly is still quicker than loading a large file. That's really the 'why' behind filesystem compression.
Just remember that if you move/copy a file, the OS automatically & transparently decompresses it when it gets moved. Same goes for modifying a file (although Squeeze would see this and recompress).
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