Hate for this to be my first post and to burst some bubble here, but this plugin does not work.
Tried to use Gzip, and YES it is installed on my server. Got this error:

Content Encoding Error
The page you are trying to view cannot be shown because it uses an invalid or unsupported form of compression.

Using js, css, and minify page, get this error:
Warning: fopen(/home/henrycou/public_html/plugins/system/php_speedy/cache/js/_cmp_javascript_f5cb3bd8c64e5b626edb6c072278ad31.js) [function.fopen]: failed to open stream: Permission denied in /home/henrycou/public_html/plugins/system/php_speedy/controller/compressor.php on line 404

Warning: fopen(/home/henrycou/public_html/plugins/system/php_speedy/cache/css/_cmp_cssstylesheet_18d110412d2dc814d2ff8e1f7c0ed61c.css) [function.fopen]: failed to open stream: Permission denied in /home/henrycou/public_html/plugins/system/php_speedy/controller/compressor.php on line 404
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If you have not installed yet....DO NOT INSTALL!

My theory is that its not compatible with new Joomla.

Hello rocket,

The current downloads of PHP speedy are marked Alpha. This is the very first stage of development, and the released software is not meant for production use. It is meant for interested parties to install and test the software, and report bugs.

We depend heavily on this feedback in order to improve the software.

As for the specific error you are having, it is unrelated to the Joomla version. It is a file permission issue that can be fixed by changing the permissions on the folders the files are in.

I can go into detail on fixing the bug, but if you were planning to use speedy on a live site, I'd strongly advice not to as this is not the intention of the current release.

yeah, the module requires you to chmod to 777 also.

that will have to be fixed before it can even be considered for production.

good luck and cheers.

The plugin does NOT need you to chmod any files/folders to 777. It only needs read and write permissions, for the PHP process, to the cache/ folder, the same permission Joomla needs to install and manage extensions, handle cache etc.