It was true in 2005, but still? As I described in another post here, a modern strategy is to get a beefy server than can run the same ABI, then start a docker container and assemble a system from Alpine's package repo, then compile a kernel and a few in-house things, then extract a subset of that into an image. No cross-compile, and most of the useful software is in pre-built binary packages with the compile-time options you would have selected anyway.
Even if you don't have a beefy server of the same architecture, you can probably run it in qemu instead of docker to the same effect. And even if qemu is slow, you can run a build of the kernel and your in-house stuff in parallel on 64 cores and not really be affected by the qemu slowdown.
I'm interested to hear counterexamples, though.