dickbaker - 5:41 pm on Jan 21, 2011 (gmt 0)
I don't think it matters that much for rankings. It's really a go/no go situation. Just because your site is faster than everyone else doesn't mean you will be #1.
However, a faster page and site is better for users and helps conversion.
I've found that to be the case in my niche. Most of the top-ranking sites are ecommerce sites with a lot of images per page, and are very slow loading. The page speed analyzer puts them in the 70's, while my pages are in the 80's.