I've been routing all Internet traffic through my own OpenVPN server at home for several years. On the phone I can't really say I notice much at all, it works just as well as if I was connected directly. There is an overhead, yes, but in a good setup you shouldn't really notice that much of it in real life.
This way Internet sites can't even tell that easy if or when I'm travelling; I have the same semi-static public IP address anyhow, regardless of where I am in real life.