This is very very cool
This type of work will only get more important as Blender gets more node-centric (especially once we start getting new tree types for things like modifiers and particles).
It looks like a pretty nice enhancement in general (and Blender’s node window is already quite pleasant to work with).
@AceDragon: rigth, and more node centric blender will get - better for us 
Enhancment is indeed very nice, we need it in master ASAP. i just realised i spent too much time in nide editor/compositor arranging and rearaning nodes.
Can offset be modified/defined or turned off (probably yes)?
Was thinking it would be better to have automatic input & output points, rotating/moving on border in the direction of the closest connection, node location… i have no specific direction of organizing objects & usually connect them also backwards… i prefer small space clutter/occupation.
On the side note: Will/Can node space ever be in 3D?