The raw transaction can be compressed. For example, the transaction posted above is 808 bytes. If I gzcompress it, then base 64 encode (so it can be represented as printable ASCII chars), I can get it down to 488 bytes.
The raw transaction above is 404 bytes. Two hex digits make a byte. All of the compression "gain" you are observing is merely a result of compressing out the additional space taken up by converting the binary to text. Try compressing the 404 bytes.
Edit: gzipping and base 64 encoding the original binary transaction (404 bytes) yields 460 ASCII chars. That probably about as good as it's going to get without modifying what information needs to be sent.