So don't do it at compile time? That's really a very weak argument against the Itanium ISA, and honestly more of an argument against the AOT complication model. Take a runtime with a great JIT, like the JVM or V8, and teach it to emit instructions for the Itanium ISA. (As an added advantage these runtimes are extremely portable and can be run, with less optimizations, on other ISAs without issue.)
The problem, as always, is that nobody with money to spend ever wants to part with their existing software. (Likely written in C.) In 2001 Clang/LLVM didn't even exist, and I'm not familiar with any C compilers of the era that had so much as a rudimentary JIT.