On the Interplay Between Routing and Signal Representation for Compressive Sensing in Wireless Sensor Networks, Giorgio Quer, Riccardo Masiero, Danilele Munaretto, Michele Rossi, Joerg Widmer, Michele Zorzi.
This paper addresses the same problem as the paper right below. Actually, it's interesting that both papers cite versions each other, which is quite rare.
This paper is a bit more optimistic in the use of compressed sensing in conjunction with routing and data aggregation in sensor networks, but still raises some issues into which random projection would be best for real data (the best results are obtained for synthetic data). It seems there is a trial-and-error phase to see what compressed sensing bring to this problem, with no definite answer thus far.
Disclosure: one of the authors here, Joerg, is my colleague in Munich.