I have no problem in general with the lossless compression of text or the transparent re-compression of images on websites, especially since most people are utterly clueless about how much bandwidth they waste on poorly-packed PNGs, obscenely-high-"quality" JPEGs, and even posting bizarrely high-resolution images and depending on img tag parameters to display it reasonably.
Opera Mini is far more invasive, however. What actually gets transmitted to your device is not even HTML, and the JavaScript support is severely limited. It's not just "compression" in the sense we usually understand it, it significantly alters the nature of the data being transmitted.