Google WebP

An interesting new image format Google came up with for the web, that can be contained in a PNG wrapper for current browsers. Sounds interesting, but is it worth the hassle, especially for sites with smaller amounts of traffic?

I tried out the example demos on Google’s site, and though it claims the file sizes are smaller, they took a hundred times as long to load the WebP images as the JPEG images on my weaker internet connection. And this is with Google Chrome. I’m more than a little skeptical of its utility now.