I was planning to publish a post with literally the same title as this one later this week (annoying coincidence as I guess mine will now be largely ignored - maybe I should wait a few weeks to let this space calm down, I'm not sure) with some in-depth step-by-step explanation - so watch out for that :)
It'll be on my blog, reinterpretcast.com and I'll probably tweet about it from @_joesavage. I'll probably also post to HN and Reddit, but I'm not sure if it'll gain much traction since it's so similar in concept to this article here.
As expected (and possibly not aided by my timing, I'm unsure), my submission hasn't really gotten much attention - the link is here if you're interested though: http://www.reinterpretcast.com/roll-your-own-cdn