The latest deduplication advances automate the process of hunting down multiple files at a very granular level and apply specialized compression algorithms to what remains to shrink your data even further.
In the meantime, though, we'd guess that this update may not be worth hunting down to the degree that the new iPad 2 was -- the level of shrinkage here doesn't seem enough to have a huge impact on power draw, and in any case that's less of an issue for a device that's fed from the wall.