"Yes, the assembly part of it looks difficult to me. When I look at Arc or Lisp code I don't see any way to translate that to native code. Obviously has been done, I'm just not educated on such matters."
I found a good link / tutorial about how to compile a subset of Scheme to C language. The compiler is about 800 lines of Gambit Scheme (blank lines included) and even deals with tail-recursion and continuations ! (well, that's based on the lambda papers...)
No GC, but you can use Boehm and have one for free.
