HTTP Compression
HTTP compression provides faster transmission time between compression-enabled browsers (Microsoft Internet Explorer 5.0 or later) and IIS. You can either compress static files alone, or both static files and applications. If your network bandwidth is restricted, consider HTTP compression, at least for static files, unless your processor utilization is already extremely high.
How to enable it ?
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Open IIS Manager (inetmgr.exe)
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Browse to web server
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In “Features View” click on Compression.
References
http://technet.microsoft.com/es-es/library/cc771003(WS.10).aspx
http://weblogs.asp.net/owscott/archive/2009/02/22/iis-7-compression-good-bad-how-much.aspx
http://blogs.iis.net/ksingla/archive/2006/6/13/1313980.aspx