[sb]

ad 1) Hm, this seems to be a good point, but what's with the following line of thinking: some thread A interprets a program P, while another thread B compiles P to native machine code (P'). Now, if another thread C would start executing P' (taking the data/snapshot from A), then C's caches should build up and remain accurate. Of course, if this happens too often, then the caching behavior will be shitty. I always wondered (based on my interest in interpretation), how much I-cache misses the instruction cache flushes after inline-caching in native machine code cause. (If you have some data on that, please let me know.)

ad 3) I am well aware of that. However, I remember that at PLDI'11 there was a talk from Univ. of Edinburgh chaps doing parallel trace-based dynamic binary translation. Obviously, DBT is less work than a high level, full-blown JIT, but at least it's not nil :)