I just finished splitting my modules from my main project to a separate project to be able to use the -load-externs and -link-report compiler arguments. The benefit is great when using the seperated project technique. Especially if you follow strict modular programming techniques that have encapsulation. It cut my modules down from 680k to 250k. I suspect my module will now load close to 3 times faster than before (2.72 to be exact).

I read the following documentation to get the specifics on loading modules and setting up different strategies in my projects.
Here is the Adobe Blog Entry
Here is the Adobe PDF of the documentation.
Here are the Adobe examples from the documentation.