Compiled C++ results in machine code binaries. Most C++ compilers have been optimized, so if the code is well written then it should run just about as fast as it would if it was written in assembler.
Well C# results in almost the same assembly code as using C++ in windows I am told and I even tried speeding things
up using un-safe pointer code but that didn't achieve much of a result so maybe hidden within the COM windows is still using
after they told everyone to move over to Dot.Net they kick out to some custom hand crafted machine code.
I even played with un-checked (Maloc in C++ i think you call it) but that didn't result in any gains at all so maybe I will
crank up VC just out of interest and give that a go not that I can remember much C++ and most of that came from Borlands C++
I think the other part of your answer is spot on the money