[Plugin: W3TC] minify googleapis jquery bad idea?

Hi

I’ve added the following to my theme functions to replace wordpress’s jquery with google apis:

Function register_google_cdn_jquery() {
wp_deregister_script('jquery');
wp_register_script('jquery', 'https://ajax.googleapis.com/ajax/libs/jquery/1/jquery.min.js');
wp_enqueue_script('jquery');
}
add_action('init', 'register_google_cdn_jquery');

After doing this, should I not combine/minify this in W3TC to get the maximum benefit when a user already has the file cached locally? Or if I combine it in W3TC, will the local version still get used if available?

Thanks

EB