Why do I think this is relevant today? In many countries like Germany for example it is common to have a mobile traffic upper limit around between 200mb and 512mb per month. After that you only get GPRS. Use your smartphone for a week with only 2G (53.6kbps), to get a feeling what many smartphone users here think about it: "It is better to have a Wifi ap in reach."
Because it isn't as important. If there were all the time in the world, we'd all be able to make our web sites as small as possible, but in reality, it's just not necessary. Yes, there are minorities of users that need it, and depending on what market you're in it could be important. But for most people it isn't.
>Viaweb Store is the fastest, easiest way to open an online store. You create your site on our server, using nothing more than the browser you're using to read this page. So you can build a store and start taking orders in minutes.
"Start taking orders in minutes" is better than the above the fold copy on shopify.com if you ask me.
Ironically - Apple still does this on apple.com. Most of their large nice looking text is actually an image.