OpenGL guy said:So when you have data that doesn't compress, then you are actually using more space than you would if the data wasn't compressed at all.
Yes, but it's very unlikely to happend in real world applications.
OpenGL guy said:But since you have to plan for the worst case scenario, you have to reserve memory so you can add mode blocks. In other words, you aren't saving any real space at all.
Not if you handle all memory allocation on the graphic card dynamically in hardware. It's probably not an easy task, but probably doable.