This is cool–it's worth mentioning that you might be trading runtime performance for bundle size though, here's a contrived example to demonstrate: http://i.imgur.com/38CR3Ws.jpg
Keep in mind that everything is gzipped nowadays, so it may not make a big difference in network usage. Although it is still likely to cause some memory overhead
No, I have done and pubpished an article about how gzip works with JS and the result will compress pretty well. Not better than the code, but I would guess within the same order of magnitude.
JavaScript parsing is still a huge bottleneck. 1mb of it will still take 1 whole second to parse in V8 (note: just to parse it, not actually evaluate or run it!).