I know this post is old, but the OP is essentially correct; modifying the ack frequency would appear to drastically lower your ping times, but only in very specific circumstances will it improve communication with the server.
Judging by the number of positive comments about the addon, it really is an amazing placebo though. Unfortunately "it feels more responsive" is just confirmation bias. Objectively measuring any effects this causes, positive or negative, would be fairly difficult.
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