There are real reasons to provide binary distribution of software. Setting aside the business concerns for obfuscating your software by compilation so proprietary logic is not provided in a very clear way, it makes things simpler for the user, which is who the software is for.
I would really dislike to get large software packages like GCC, Gnome, PHP, and a million others in source-format unless I were developing that software. Even on my quad core machine, compilation takes time. Id much rather just move some binary blobs about.
Also remember that (on Linux systems at-least) creating binary distributions allows for consistent and stable systems that have been tested. Creating binary distributions is the best directly translated tested software configurations to the user.
Given that many JIT/Interpreted languages run around 1/2 the speed of C (roughly, im sure some do better), I would rather have a machine-code distribution of the software than see everything written in Java/C#. Especially when I have no need to see the code. Never mind downloading source distributions and compiling-on-demand. As a user (and developer) RPM/.debs are much simpler.
So this kind of answers "Are there a real reason for people to use dynamic linking and binary distributions these days?". The issue of dynamic libraries isn't really an issue. Runtime symbol resolution doesn't degrade performance too much. How would projects like Apache and countless others handle a module architecture otherwise? (Hey, they could always have a built in compiler/interpreter, linker, loader and do it manually! shudders )
software is compiled once, and used a hell of alot
As for making compilers faster, this depends on the semantics of the language being compiled, and the grunt work of analysis. You could write a very fast C compiler, but the code might not be optimal and will therefore run slower and have a larger memory footprint. Considering software is compiled once and ran often, I would rather software take 1-hour more to compile but save me that time in speed later. But that doesn't matter because we have binary distributions.