Someone might find this useful. Once, I urgently needed free disk space and found a way to get it. I wrote this article after reading posts in MacRumors and MacWorld (both posts were written by brkirch, who used Ars Technica's Snow Leopard review as the basis).
Those who use (or used) Windows with NTFS filesystem, know that one can set "compressed" attribute for a folder (file), so that all the files moved to this folder are compressed by Windows. The files are decompressed automatically when you use them. The fact is that compression and decompression are done in the background unnoticed for the user. Something similar can be done in Mac OS X, though, with some differences: new files in the compressed folder won’t be archived automatically (there are a number of commercial programs that will do it for you, for example Clusters from LateNiteSoft (its former name is Squeeze) or HDCleanUp) and some files larger than 20MB could not be archived. I did my best to sound as simple and comprehensible as possible.