Zimon, theory is one thing, reality is another (otherwise we'd be using lisp or prolog ). 5-10 years after the papers you mention and a few million (billion?) $ thrown at it by Sun and Google, it's still 'not there yet'. Android giving in to the pressure and being polluted by native code tells the story pretty well. And people wanting to earn their bread and/or geek creds writing code are doing it today - we're talking about *today's* technologies, not the hypothetical performance in some unclear point in the future.

PS. As for time critical - in mobile space 'slow' translates into 'power-hungry' (because it goes against race-to-idle, etc).