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They really should hire this guy: [stevesouders.com...]
LOL! They did - soon after Yahoo released the Y!Slow tool and Steve gave a tech talk at Google. In fact, here's a Google Tech Talk video on browser speed issues [youtube.com] with Steve Souders. It's one of several on YouTube, and they're all worth watching.
Other than motiving some webmasters to optimise and being nice pr, how useful is this metric other than to show how bad most people's connections are and how much junk they have installed?