Did somebody try this with nginx? The rewrite rule doesn't work just like that.
rewrite ^wp-content/cache/minify-(.+)-(.*).(css|js)$ /wp-content/plugins/minify/make.php?hash=$1&type=$3&incr=$2 last;
This could be a great plugin, but some more information would be really nice. For example if its using memcached or not or a check if it works and some credits or something.