Awesome. It's the "running it millions if not billions of times" that makes the compiled option compelling. You've probably thought of this already, but if there's a problem with including the compiler, you might find that you can generate the assembly or binary directly, at least if the code is as simple as the examples you've given. The disadvantage there is that you'll miss out on compiler optimizations, which might be substantial.
Good luck with your project. I worked on a binary translator 20 years ago. It was basically a compiler where the input language was the binary for a different CPU. I know that this sort of project is very fun.