This is courtesy of CyberDad over from ModMyI forums...here's his OP:
I have tested this and amazingly enough, it actually does work! WinterBoard is a bit optimized by using WinterBoard settings, essentially, i am guessing, through "stripping down" some of WinterBoard's theming functions.
If you're like me and you only care about theming your SpringBoard and LockScreen, this is for you. It does not affect those (or widgets or HTML backgrounds). I believe if you theme apps and more specific system files then they might not work...however, you can always compensate by replacing those files individually manually through SCP...just make sure you back up everything you manually replace instead of using WinterBoard.
Using SBSettings + Winterboard + LockScreen Info + StatusNotifier as my only MobileSubstrate-based extensions, I was hovering around 36-38 MB free at all times; with WinterBoard Settings installed and the "SpringBoard Only" option checked, I get around 48-56 MB free now...an excellent gain of 12-18 MB of free memory, and all without breaking any of my WinterBoard themes I am currently using!
Highly recommended.
I added that to my sources and i dont see a winterboard in there. Only about 8 things in there and most are for wheater stuff. I have a 2G but that shouldnt make any difference n downloading the packages.