llvm-gcc4 needs to have the compiler driver set up to work with transparent IPO. The behavior of what we want is described here: http://lists.cs.uiuc.edu/pipermail/llvmdev/2006-May/005818.html -Chris
llvm-gcc now supports -O4. If underlying linker supports llvm bytecodes the (e.g. using lto library) then it works!
Devang implemented this with liblto and integrated support into the Apple linker. Chandler is working on integration with binutils. -Chris