Yes. The tarball is not needed after 'make install'. BTW The standard directory for compiled rpograms is /usr/local. Binaries go to /usr/local/bin, libraries to /usr/local/lib and so on. The thing is that /usr/local/bin is not always in your PATH, so you won't be able to run it using only its name. If you encounter such a problem, add /usr/local/bin (or any directory you prefer for the programs) to PATH in such command
To make the change permanent and for all users, add the command above to /etc/profile.