Definitely, the improvements on rustc are visible, so eventually it will reach there.
And I test it on that hardware on purpose, because I should not have to buy a top class desktop to achieve usable compile times similar to other AOT compiled languages.
However, I also admit that what is missing is having a backend that favours debug workflows, which do exist just aren't yet there.
If it does compile, could you try reporting results for multiple Rust compiles (e.g. the current one, and the ones from 6,12,18,24 months ago) ? (If you can, maybe do the same for C, but I don't know how easy that is).
The C++ version still wins by several minutes on a Asus 1215B.