I didn't do a full C++ rewrite of course. I think it's fair to say that whenever you are doing lots of concurrency/multithreading/evented stuff in a language like C++, the savings will be enormous when you switch to a language that has a nice concurrency model (ie, not just threads and shared mem and mutexes).
Changing the language changes your thinking about the problem. If you translate a program from erlang to C++, the result might be shorter and more reliable than if the first version is in C++ and you rewrite it in C++. It also might not be, of course, but the fact that it could be muddles the comparison.
I worked with someone who produced very elaborate designs for the most trivial tasks. Unfortunately, his code was more clever than he was, so it often didn't actually work. Whenever I re-wrote something he'd written in the same language, I managed to do it in 1/10th to 1/15th the number of lines, while adding the "actually works" feature.
1. memory management is hard - this is mostly a solved problem because the difference between C and $GARBAGECOLLECTEDLANG was great enough that it outweighed most differences in programmer ability. The mass move to web servers put paid to the need to develop for Windows APIs and Linux Syscalls and the a erage software project actually got better. (well ... worked)
1.a. business rules work better in languages that treat functions as first class objects and even better in languages that are logic based and really well in DSLs. most programmers don't reach the first so ... well we await the next mass change if languages.
2. Choice of algorithm. For loops are nice. just not everywhere. O(n^2) hurts. You can see the same in Unindexed table scanning queries.
3. Metrics. measure your own programs. write dynamic do s that update profile information in them. if you are not measuring then ... how do you know you improved? passing another hundred tests does not tell you if those tests measure what is valuable. tests are regression. metrics are progression.
4. I'm ranting too much today, blood pressure is rising :-)