No, that's about writing an Elisp compiler in Guile. Yoklov was talking whether Guile itself is as suitable an extension langauge as Elisp.
Right but what if this compiler could JIT elisp to the Guile VM? It would use Guile but still be elisp compatible. Am I wrong?
As far as I know (but I'm not the person to ask), their goal is to swap a new (Guile-based) Elisp implementation into Emacs that is 100% compatible with existing programs. That seems like a sine qua non if their plan is to have any chance.
[1] http://git.savannah.gnu.org/gitweb/?p=guile.git;a=blob;f=mod...