Is it possible to compile C/C++ code for the ARM Cortex M3 (LPC1768) using vanilla GCC with the --target
switch, or will I need to compile GCC, binutils, etc to do this?
As already said, those are not your only two options. I suggest trying this toolchain prepared by ARM engineers: GNU Tools for ARM Embedded Processors . It's specifically tailored for Cortex-M and Cortex-R cores, and it doesn't require registration to download it.