Jikes does not support the new Java 5 stuff, so this is not an option for projects using these tools.
The best javac alternative these days is, in my opinion, the Eclipse compiler, available in the standalone version. Speed ββ(which is the main force of jikes) is less today.
EDIT: Jikes supports incremental compilation, which can be very interesting in environments where development with a full-sized IDE is not an option.
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