> Doubling the time to compile a project can quadruple the time to solve problems, in my experience.
My experience has been somewhat opposite.
Long compile times lead you to put more thought into your program, roughly (obviously I'm way over generalizing here, it's actually the language itself that causes this but I'm waving my hands and positing that there's a rough correlation between compile speeds and language formality). Slow compile times mean you're not thinking about how your problem is modeled formally and just kinda gluing things together and seeing what happens at runtime.
While quick compile times may get you a system that kinda works more quickly than a language with slow compile times, in my experience you have to iterate much much before the problem is truly solved. When I user slower languages I find myself iterating fewer times before the problem is usefully solved. Not to mention I spend far less time fixing bugs.
Maybe it's all a wash, but slow languages definitely do not result in a quadratic slowdown in productivity...