It speeds up app loading time considerably, however may increase booting time a little bit. Given the stable nature of GNU/Linux cold reboots are seldom needed thus one would benefit more from preloading most used applications to RAM. I deem this most valuable on notebook systems that have inherently slow hard drives.
Project on Sourceforge
Preload can be found in Synaptic. For those that prefer the cli:
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sudo apt-get install preload
It will speed up your PC.