Yes! It works fine with gcc-4.4.1 and glibc-2.10.1...just follow the guide. It compiled without any issues apart from the nepomuk ebuild requiring non-grsec kernel to compile - and yes, it does crash when running with grsecurity but hey - nepomuk is not critical a part of the KDE environment, is it? ;)
Of course, getting X to work with decent drivers is always a mission (at least with nvidia based cards), so I'm currently using the opensource 'nv' drivers, as neither 'nouveau' nor binary drivers work for me...KMS works fine - hopefully the 2.6.31 brings less patching...
Nevertheless - if you're not after fancy 3D stuff (maybe owners of non-nvidia cards are more lucky?) - KDE 4.3 is out there an it looks much better than previous 4.x release - less vista-ish too - that's for sure! ;]