I think the optimalizations are mostly done for the pentium IV and Itanium processors. The results are almost the same for my PIII 900Mhz processor.
LAME 3.94 BETA: --preset standard -Z
JohnV“s ICL7.1 compile:
2.8134x
ICL8 compile using /fast (is the same as /O3 /Qipo) /G6:
2.7284x
The other possibility is that JohnV is using some exotic magical swithes to optimize the compile