There's a WordPress plugin called 'W3 Cache' that caches your page. It's supposed to make it faster. I tried it for a day, but it messed up my WordPress theme, lol.
Considering the benefits of serving a static page versus dynamic content, it would be well worth figuring that out.
As Coffee said, it's a compression algorithm
for compressing content from the webserver to the client browser. Given you're serving about 34K of data, gzip compression should yield about a 75% (in some cases more) reduction in size transmitted from the server to the client. Couple your server with no compression and the fact that you've also told the client not to cache ANYTHING from the webserver, you're unnecessarily spending time re-serving UNcompressed data to a client EVERY time they visit the site - from the headers visiting your site this evening:
HTTP/1.1 200 OK
Date: Wed, 14 Apr 2010 05:50:30 GMT
Cache-Control: no-store, no-cache, must-revalidate, post-check=0, pre-check=0
Expires: Thu, 19 Nov 1981 08:52:00 GMT
Set-Cookie: PHPSESSID=p1j9plhvn47a6m8u5b5e57jif1; path=/
Set-Cookie: wassup=MTdmMGQxYzJiMTY2NDM2ZTI3YTM1Yzg0YWFkZDgwMzE6OjEyNzEyMjY5MzE6Ojo6MjA5LjY4LjEuNjM6OnJ1aXMucGFpci5jb20%253D; expires=Wed, 14-Apr-2010 06:40:31 GMT; path=/
Keep-Alive: timeout=15, max=100
Content-Type: text/html; charset=UTF-8
Consider using http://ismyblogworking.com
to get more info about your blog, and hints as to what else you can do to make it more efficient.