Here's the scoop on how it works with Jammit:
* You define your CSS asset packages as you see fit, using an ordered list of directory globs that gets expanded into a list of unique stylesheet names. (Same idea for JS packages).
* Minified, compressed versions are generated, using either the YUI Compressor (for CSS or JS) or Google Closure Compiler (for JS only), in both MHTML and Data-URI variants.
* Helpers are provided using conditional comments to serve the appropriate stylesheets to the appropriate browsers.
* Finally, packages are "gzip --best"'d, so that you can have your webserver serve them entirely statically.
* If you've set it up properly, you can have a single HTTP request that contains all your stylesheets for the page, as well as all of your embedded images and web-fonts.
Just for kicks, here's an example with a stylesheet that references 100 small images. There's a link on the page to the packaged version. Try the difference over wifi.
http://jashkenas.s3.amazonaws.com/misc/jammit_example/normal...
If you're looking to implement MHTML yourself, be careful about whitespace. Internet Explorer will cheerfully ignore MHTML assets that contain Unix-style newlines.