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Actually, kwin's compositor is so bad it's unusable.. Xfwm4's is awesome, it almost works. But kwin's is just baaaad (or at least the 3.4.0 one was).
I think it was a direct fork of the now dead xcompmgr. Thats why I plan to move to KDE in 3.5, when some of the bugs are worked out.
Gnome is right to not include one; it'd just be a lot of extra list traffic like this:
Well, if Gnome wants Metacity to continue to be a blight on the entire DE then I will not stand in their way. But I will say that an accerated desktop is about more than eye candy, and no Window Manager in existance needs compositing more than Metacity (its the only thing that makes the draw black crap all over your screen when minimizing "feature" tolerable).