gcc is still better at optimization, though. For now.
[edit: wow, people are really confused here. Guys, LLVM was designed from the start to have a clean separation between passes. You can compile some other language to the LLVM bytecode and then just use the code generator, for example. It even includes a JIT! In contrast, gcc is a huge monolith. The projects are written in different languages, too... C++ versus C.
tl;dr is that when you say that "the only difference is the license," you sound like someone saying "the only difference between Ruby and Java is the file extension." Pointy haired.]