I've been using embedded SVG icons for a few years now, and absolutely love them. It's been much easier to update them as individual files over time instead of needing to repackage a collection of vectors as a combined font. Also, gz compression pretty much mitigates most of the size concerns with SVG data as it is highly compressible.
One of my main goals has been to minimize first access latency on my web sites to help give a better user experience. SVG has done this beautifully! They're also amazing for high DPI displays since they just scale up. One of the sites I manage is an ecommerce platform with invoicing. Since the client prints to a laser printer from their web based invoices, since switching to SVG, their logo looks considerably better in print.
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