Is it really possible to achieve grade “A” in yslow for all things for a dynamic and CMS(PHP/Asp.net) based websites? and using same server.

(source: haacked.com)
http://developer.yahoo.com/yslow/help/index.html#performance_view
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Yes, I guess it is possible to achieve this on one server, except of course for the CDN part which relies on an external service. You’ll probably need full control over your server to configure things like ETags and such.
I think it’s rarely worth the effort to fulfill all this literally down to the last percent except if you’re a huge site like Google or Yahoo themselves, where every saved byte can mean tens or hundreds of thousands in savings. Just get a proper grade so things work fast and reliably – much like in school 🙂