Interesting. David Ryan’s Argot project uses a JITer, and his explanation of using a JITer is not simply the reasons you give here, although they are bonus points for the Argot MCG (Micro Code Generator) which outputs C code.
The main idea behind Argot was resource consumption on embedded systems and to allow bootstrapping systems from nothing, like the kind the 6lowpan (IPv6 over Low power Wireless Personal Area Networks) working group were concerned with. David was a member of that committee, although somebody else’s ideas ultimately won out.
Something for you to blog about in the future, I guess!