My experience from working on large C++ applications is that it is a big mistake to ignore compilation time. There are Rust insiders who have admitted that this has come back to haunt them.

A lot of coding is quite iterative and experimental. If ever time you make a small modification you need to wait 5 minutes to recompile, then that start to become a major bottleneck in your development process.

Again depends a bit on what sort of software you are building. Some software requries more experimentation than other.

In some areas such as a GUI heavy application, games, data science etc you typically need to experiment a lot, which means frequent recompiles and launches of an application.