What does Error 330 (net::ERR_CONTENT_DECODING_FAILED) in Google Chrome means

What does Error 330 (net::ERR_CONTENT_DECODING_FAILED) in Google Chrome means

Lately I have been playing around with WP caching, web compression and the sort. As I was toying with some of the settings I realized my site was throwing error 330 when accessing it from Google Chrome (IE meanwhile just said the site was down). It turns out the error 330 (net::ERR_CONTENT_DECODING_FAILED) is generated when HTTP request’s headers claim that the content is gzip encoded, but it isn’t in fact. At that point what I opted to do is enable IIS dynamic (and static) compression and disable the gZip encoding from the WordPress plugin and that did the trick.