Minify vs Compression?

enabling gzip with dynamic content adds a significant CPU load to the webservers. For a small site this may not matter, but for a large site, it's frequently cheaper to get the extra bandwith and send out the minified version uncompressed than to pay for the extra machines needed to enable gzip.

But as this is regarding minification, we're talking about non-dynamic content anyway, right? So a site could (and many do) gzip their content just once.

Some frameworks offer on demand minification too (MediaWiki's ResourceLoader is the one I know), so technically minification can also be done for dynamic content, but as you say, it depends on where the bottlenecks are as to whether that's a wise move.