I say this is a bad idea, and for three reasons:
1. We can already obfuscate code, via the luac compiler. If you want to commercially distribute your game (or make it otherwise closed source), you should go that route instead. Minifying your code is a false sense of security, as it can easily be unminified should anyone want to write that code.
2. Plain text is compressed really well by the zip algorithms. The difference may be negligible in terms of filesize. Your time is better spent converting uncompressed wave files into oggs.
3. For games that aren't commercially distributed, it encourages a lack of trust in the community. We were all newbies once, and still newbies on some facets of our experience. One of the ways we learned was through reading and understanding other's code. The community should remain friendly and when someone else learns from or uses your code, it should be considered flattery rather than theft. Our
Libraries have such inviting names for a reason
