If the licence says "for educational purposes by researchers and enthusiasts." than thats what it means (*doh*).
Once you use the compiler to generate and distribute SW for non educational purposes your out of the licence.
@freqmax
Back in the day I started with
http://aminet.net/package/dev/c/HCC but make sure you have atleast a 2nd floppy-drive.
Later I switched to an unreged copy of DICE but the only versions of that still on Aminet seem unsuitable for a floppy-only system.