Yes, true, you can construct a machine on which any project you care to run is CPU bound. But meanwhile on my pretty beefy servers compiling a kernel from scratch is very much i/o bound. Maybe if I run it twice in a row after all of the caches have been prepped I can get it to be CPU bound but that's cheating, no? With enough RAM almost anything is CPU bound but that's not the normal situation. A typical laptop has 4 or 8 G of RAM and will rapidly consume all that while doing a kernel compile to the point that it's talking to the disk to a degree that it will slow down to where the CPU's are stalled.