The portion of compilation postponed until run-time is called <em>dynamic compilation</em>.  Profs. <A HREF="http://www.cs.washington.edu/homes/eggers">Susan Eggers</a> and <a href="http://www.cs.washington.edu/people/faculty/chambers.html">Craig Chambers</a> and <a href="http://www.cs.washington.edu/research/projects/unisw/DynComp/www/Prototype/people.html">several students</a> make up the University of Washington Dynamic Compilation Group.  We are focusing on optimizing code performance at run-time using information available only at run-time.  In particular, we are currently considering <a href="http://www.cs.washington.edu/homes/pardo/papers.d/eval-vso.html">value-based specialization</a>.  <p>
