This article http://robertnyman.com/2010/01/15/how-to-reduce-the-number-of-http-requests/ contains some interesting ideas about making pages faster to load.
The one that is attracting attention is base-64 encoding small images and inlining them. One criticism of this approach is that individually loaded images are cached whereas a web page may be loaded afresh each time thus increasing page load times overall.
However if the inlining is done in a css file (which is cached) then there could be a benefit at the cost of a longer initial download. A tool is mentioned called cssembed which does this to all image references in your css file, for icons etc this might end up being a significant win. Of course if you embed dozens of icons for a page which contains none it might not look such a good idea, but for headers, navigation etc it could be worth the effort.
Anyway, an interesting idea and one for the toolbox.
Thoughts?