1. install build dependencies:
$ tce-load -wi compiletc libdvdread-dev

2. per TC wiki, for maximum compatibility:
export CFLAGS="-mtune=generic -Os -pipe"
export CXXFLAGS="-mtune=generic -Os -pipe"
export LDFLAGS="-Wl,-O1"

3. the usual:
$ ./configure
$ make
$ mkdir /opt/dest; make DESTDIR=/opt/dest install