Awesome Module

Awesome!

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Ok, I have a few notes.
Don't get me wrong, I am really happy about the post :) just want to clarify a few things.
I know, the module page might also not be in an ideal shape.

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About PEAR-NG:
I should mention this is a made-up term, invented by someone in a discussion on drupal.org. Probably noone really uses it outside of the xautoload project page.
Symfony mentions a "PEAR" autoloading convention, where underscores are replaced by "/" (directory separator).

PEAR-NG is the same, but it strips off the prefix that specifies the module name, to get a flat directory structure inside lib/. (*)

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Also, in the xautoload implementation for PEAR-NG, your class would be named
sps_Exception_ClassLoadException {}
and not
Drupal_sps_Exception_ClassLoadException {}

At the time I made this design decision, there was not really any standard to speak of in Drupal, and instead classes had just arbitrary names. So I did something inspired by the module name prefix for procedural.
Obviously, there is a point in having the "Drupal_" prefix.
Maybe I should support both - it is easily possible.

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(*) PEAR-NG / PSR-0-NG: Instead of
sps_Exception_ClassLoadException -> [module dir]/lib/sps/Exception/ClassLoadException.php or
Drupal_sps_Exception_ClassLoadException -> [module dir]/lib/Drupal/sps/Exception/ClassLoadException.php
Drupal\sps\Exception\ClassLoadException -> [module dir]/lib/Drupal/sps/Exception/ClassLoadException.php
you just have
.. -> [module dir]/lib/Exception/ClassLoadException.php

This was discussed when PSR-0 was introduced for D8, but in the end people discarded the idea of the flattened directory structure in favor of following the standard.

Btw, in my own projects I would probably name it like
sps_Exception_ClassLoad,
so not repeating the "Exception".

That said, this is really all home-made convention.

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Wildcards:
Obviously, the wildcard stuff is only relevant if you keep your awkward class names. If you use PEAR-NG or PSR-0, you don't have to do anything with your info file :)

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Finally, it would be interesting how xautoload compares to the symfony class loader. I would expect it to be faster if wired up with many namespaces, but I did not really test.

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And a small note: blockquote is your friend :)

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Anyway, thanks a lot for the blog post!!

You are invited to try the 7.x-3.x branch :)