I think this was on HN earlier too. It's slightly different from what I had in mind, however; generating and then running Asm from Lisp is not quite the same as being able to embed instructions inside any function that manipulate the contents of lists directly, which can be easily done in C/C++.
Note that the C++ is half the code and 6 times as fast. This supports my general impression that you can torture decent performance out of a Lisp compiler, but the result will be ugly, and you'll rarely match C.