Awesome. This approach can definitely work for lots of people. We default to WOFF because it's essentially just a slightly more compressed OTF file, it's something all browser venders seem to agree on, and it just seems like The Right Thing To Do for the web. We serve raw TTF files for the stock Android Browser. I had so much trouble hinting the raw OTF font for Chrome on Windows that I gave up and used SVG. As I mentioned in the article, SVG fonts don't get mangled by the browser's font rendering engine or ClearType.
WOFF is a result of font foundries and online font services pressuring W3C to produce a browser-only font format. Something that cannot be save-as'd and dragged into the C:\Windows\Fonts. It is indeed somewhat optimized for the web use, but that wasn't the primary design goal behind it.
Ah, well copy protection is definitely not a concern for us, since we serve the raw TTF alongside the other formats. The fact that the WOFF file was about 30% smaller than the TTF was more of a deciding factor.
Also, I never had any problems with FontSquirrel.