I love analysis and optimization of web properties. Recently, had a project that I had to include some fonts and images to the style sheet via Base64, so I was curious on the pluses and minuses of going Base64. Obviously, with the Base64 approach, you save HTTP requests, but you bloat your file size by an extra 25%.
But really to decide which to use, rests on a series of questions you need to answer about the web property: how often are resources updated, browser support (namely legacy IE support) and whether you need (or want) separate images for retina displays.
