Both Ext3 and HFS+ support
Extended file attributes, but the two aren't compatible and this could cause problems. You'd need some way of mounting those ext3 file systems (OSX fuse?). Using fuse rather than native kernel drivers will be likely to involve some loss in performance. Plus if you use an SSD, will those filesystems support TRIM when accessed from OS X?
Perhaps you could try it for your ~/Documents ~/Downloads and others, but I suspect it would cause a lot of problems for /Applications.