Actually I managed to shave off another .2 to .3 seconds by serving JS files through Google.
But the thing is, these are the times of US based test server. In case of India, due to latency and slower internet speeds, these delays become bigger. And while I can't really reduce the hoops in the connection or move the server to India due to insanely expensive bandwidth, I am trying to speed up things as much as I can on the serve side.
Will try and see if I can implement that /dev/shm trick, if not, I will bother you again with that. For now I am checking with my host on swapping out the SATA drive for an Intel SSD, maybe that would do the trick.