yes, technically you aren't getting full performance, but I believe Redhat compiles their binaries like:
-mcpu=i386 -march=i686
so the binaries run on i386 (though technically, this hasnt been possible since GCC 3.2 came out), but are optimized for i686.
And even at that, the performace gain is marginal.
But as long as your GCC settings are right, compiling yourself will give you full performace.
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