The messages you get are normal -- they're compilation commands.
I don't remember how much glibc compiled, less than 4 hours, I guess. Note that the last phase, linking (with very long commands), may take long time, because it requires huge amounts of RAM (in your case swap will be used, what always makes things slower).
I'm only thinking why you're installing glibc from sources. There are packages you can get it from. What's the reason, if I may ask?