Does it pay off?
There are scenarios, where it will be even slower with compression turned on..
When you turn on compression, Apache needs to wait, till all PHP is completed, before sending any content to the client. With compression turned off, Apache could start sending, with the first echo statement.
Due to this, the client may get the head-section fast, where it gets the info which stylesheets and JS to load and can request them, whil the rest of the PHP script is still generating HTML.
So when your PHP takes time to run, you should most likely not activate compression.
Still there are a lot of positiv effects of compression.