I first heard this rumor from an agent at NAR last week. Check out the video below of Matt Cutts of Google talking about how they are seriously considering using site speed as one of the many factors in ranking a site. After listening to the video it does make sense. There’s nothing worse than waiting for some dinosaur of a site to load. He also talks a little about Caffeine and the roll out.
Here is a page Google Code on making the web faster. You can dig around to find cool tools, tips, different Java Script Libraries and other things they have to make applications faster.
Looks like you probably should start thinking about upgrading your site if it is an old slow dog 😉 Love to hear your thoughts about things you can do to speed up a site. I’m always looking for new technology and ways to speed mine up. It should be all about the user experience 🙂