My experience with everything google has touched lately suggest that this wouldn't improve speed any. Gmail and youtube make continental drift look speedy and even the search page takes 1.4MB and takes over a second to load for me (maybe corporate network issue), that's approaching the size of doom to display a dozen links.
Google doesn't have any moral authority when it comes to bloat.
Edit - for reference HN takes about the same time to load, but that has to cross the pacific ocean whereas google supposedly has local data centers.