Voltaire my opinion, it's moderately useful on low memory systems as RAM gets "full".  A lot is based on workload and intent of the system;  something building ports that's effectively kick off a batch job and walk away.  How long it takes is really the only metric you care about, so use all the memory.
user based graphical workstations?  I think the load is a lot more variable, opening/closing apps, tabs on a browser, quick editor over here, so subjective responsiveness is the driving metric (is it fast enough for the user).  Would RAM ever get full enough start desiring compression?  I don't know.
A lot of time it's not really about how many resources you have, it becomes how efficiently do you use them.  The original Macs with 9inch B&W screen, 128K of memory, 3.5inch floppy?  They were pretty responsive for the day, the compression utilities helped because the system didn't need to go out to the floppy 
