This is a powerful addition to the engine! However, as ZIP is horrible at compressing WAV, the file size issue will remain.
Edit: Just did a quick test at home on a 5 minute song.
WAV (16 bit PCM, 2 channels, 44,100 Hz): 50.4MB
ZIPped WAV: 44.5MB
OGG (7 quality, around 190kbps, 44kHz): 7.28MB
From my understanding these are typical results and all projects with music and sound (and how many don't have them eventually?) would benefit from this implementation.