We heard at Google I/O about Google's plans to help improve the experience of users on slow connections, especially in parts of the world where even 3G speeds are few and far between.
Google's estimates have you loading the page 4x as fast compared to the unaltered version when on a slow connection, with 80% less data. They claim, appealing to webmasters, that this results in 50% more pageviews due to the better experience and lower wait.
for more study:
http://www.bruceclay.com/blog/mobile-seo-responsive-design-image-optimization
Studies on image compression level and UX?Studies on image compression level and UX?