question about compressing drive to save space??

I noticed that when i click on properties on my hard drive I can click on the square that says to COMPRESS DRIVE TO SAVE SPACE. I'm using windows XP. What will that excatly do to my hard drive, and whats happens to my programs and stuff when i do it?? Is it a usefull tool to use?? what are the pros and cons/problems of it.
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More about question compressing drive save space
  1. It compresses the file just like an .rar or .zip. Only it does it transparently.

    So there will be a delay when you open/read as it decompresses/compresses.

    Obviously this won't help if the file already uses compression , .mp3, .jpg, .avi ect...

    It also turns the text blue.

    I just compressed a DVD Rip, uncompressed 4.11 GB, compressed 4.11 GB, video is mpeg2, audio AC3.

    <P ID="edit"><FONT SIZE=-1><EM>Edited by Codesmith on 02/08/05 09:24 AM.</EM></FONT></P>
  2. you can turn off the blue colouring - Under folder settings in the control panel.

    On Topic: It's pretty useful, especially on text / html files.

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