Transparent network compression

Hi list!

Is it possible to compress all the network traffic to one
host?

My problem is: One of my PCs is connected to my network via
an old powerline 
adapter (first generation on the consumer market, 1 or 2
MBit). Distcc has 
got an option for using lzo but I would like to have a
solution for NFS, too. 
With a bandwidth like this even bzip2 could be useful.

Thanks in advance!

Florian Philipp