Say I have 100 images that are each 10KB in size. What are the benefits of putting all those into a single spritesheet? I understand there are fewer HTTP requests, and therefore less of a load on the server, but I'm curious as to the specifics. With modern pipelining, is it still worth the performance gains? How significant are the performance gains? Does it result in faster load time for the client, as well as less of a load on the server or just the same amount of load time, but less of a load on the server?
Are there any test cases anyone can point to that answers these questions?
Basically, what I'm asking is -- is it worth it?
Under HTTP/1.1 (which most sites are still using) there is a massive overhead to downloading many small resources compared to one big one. This is why spriting became popular as an optimisation technique. HTTP/2 mostly solves that so there is less requirement for spriting (and in fact it's now being considered an anti-pattern). Not sure what you mean by "modern pipelining" but that mostly means HTTP/2 as the pipelining in HTTP/1.1 isn't as fully featured or used much.
How bad a performance hit is it over HTTP/1.1? Pretty shockingly bad actually - it can make load time 10 times as slow on an example site I created. It doesn't really impact server or client load too much - the same amount of data needs to be sent either way - but does massively impact load time.
Saying that there are downsides to spriting of images (and concatenation of text files which is similar). You have to download whole sprite even if only using one image, updating it invalidates the old version in the cache, it requires a build step... etc.
Ultimately the best test is to try it, as it will be different from site to site. However once HTTP/2 becomes ubiquitous this will become a lot less common.
More discussion on this topic on this answer: Optimizing File Cacheing and HTTP2