That was the general idea. But it's taken quite an interesting turn lately! Turns out I can parse Fexl one character at a time and build the closed executable form in a single pass as I go along -- thanks to a concept which I discovered several months ago but shelved as a mere curiosity at the time. But I'm sure using it now!

I started a proper blog here: http://fexl.com/blog , but we can still use ycombinator.com for discussion.