I've just tried it, and it really seems to work. I can run more applications at the same time with less slowdown or freezes.
We now have N900-like multitasking

I've got just one problem: the "ramzswap" swap has lower priority than default maemo swap, so it's not used. I've got to manually swapoff/swapon the maemo swap to lower it's priority.

Also the last sentence in the GUI help is really confusing: there is no button on the left and i'm not sure i understand what's its talking about.