distcc is a program to distribute builds of C, C++, Objective C or Objective C++ code across several machines on a network. distcc should always generate the same results as a local build, is simple to install and use, and is usually much faster than a local compile. [1]
distcc decreases the amount of time you spend compiling by distributing the compile across multiple machines. You don't need lots of machines to benefit from distcc either; a laptop and a single desktop are much faster than a laptop alone. [2]
Gentoo users [especially ones using older hardware] will greatly appreciate the amount of time that can be saved by using distcc. Sean, however, would of course tell you to just use Mandrake.