Yeah. I'm surprised this along with the money thing are listed in the article at all. These are the sort of things you learn within the first month of writing assembly, and were widely used across the industry at the time (and times prior). The bit shifting optimization is performed by GCC even at -O0, and likely already was at the time, as it's one of the simpler optimizations to make. It's like calling "xor eax, eax" a masterful optimization tactic for clearing a register.
Looking at the macro-level optimizations like the rest of the article does is significantly more interesting.