Nope, it will increase page load times (maybe). But you are still going to max out at 56kbps/8bits = 7KB/sec for your downloads under perfect conditions. And I think that there are federal regulations saying you can't even connect at a full 56, its like 53.3? or something.
Now there are some compression methods that I think I've heard about (where they download the file first on their servers, compress, then send it to you), but I don't know what type of speed increase it could give you. Almost everything you'd download is already compressed as much as it can be, so I can't imagine it would help too much. I'm sort of talking out of my *** on this part, I really don't know. But I do know that if you could double or triple your download speed over dialup the dialup isps would likely be doing it, or if not we'd have seen articles about how they are ripping you off.