How can I compile native applications on my rooted phone? I'm running Cyanogenmod 7 on my Nexus One, and I wanted to compile and run LAME on my phone. I've already downloaded the source package and have tried to ./configure it, but I'm told that neither cc nor gcc exist on the phone. Is there a way to get gcc for Android? I'm simply looking to be able to compile a few native applications like LAME for use on my ARM device. How can I go about doing this?
I can't understand why I have to pay $3 for C4droid as it's just GCC with an editor.

Use the new free CppDroid - C/C++ IDE on Android. It has a lot of included C/C++ examples and tutorials. Blog link, Google Play link (needs 190 MB).