I take it from your comments, that you are in the camp that believes that "the sun has not yet set" on the need for RTL optimizers. :-)
I'm actually in the camp that "the sun will never set" on the need for some RTL optimizers. We'll be able to remove some of the most costly of them and the remaining ones will do less work, but I can't see eliminating the bulk of them (combine, CSE, loop, etc). The strength of GCC has always been its ability to perform optimization at all levels and I think that will always continue to be the case.