Just found this on Google. I think its new, but if its a repost, "Sorry!" http://webaccelerator.google.com/
Tried it, didnt see any real improvement overall. From time to time it spiked my cpu and slowed surfing down. I wouldnt recommend it.
No, it's not new. And as PreZ said, it's not much of a help. One of Google's flops, I think. I can see the benefit to Google (they're caching pages from sites you visit) but I don't think there's much benefit to you.
Ah, yes, the "web accelerator"... a dagger in the side of fledgling artists I was in art school when I first tried web accelerator (can't remember whose but they're all the same). I figured I could save some time downloading hi-res artwork for my projects, but it turns out that part of the "bandwidth saving" is that it recompresses images and so all the nice images I was trying to download were unuseable due to bad compression artifacts.
A decent accelrator will give you the option of NOT compressing graphics or varying the degree of compression. Even without any graphics compression, the remote caching will still save you some time. But it will really only be noticeable if you have an accelerator on a decent fast server without 4 billion people trying to access that server at the same time. If you're looking for one, skip Google and try Propel Accelerator.
With the Google Web Accelerator I got errors on certain sites like dnsstuff.com that pre-fetching was not allowed. My understanding of this is that when you use the web accelerator, it sends queries from the same ip address (that of the proxy that web accelerator uses) and so it blocks that ip address because of the number of people using web accelerator sending queries to dnsstuff.com.