I usually only add these lines:
# compile some modules with -O3 for increased speed
zebra.o: $(SRC_DIR)/zebra.c
$(call build,CC,$(CC) $(CFLAGS) -O3 -c -o $@ $<)
menu.o: $(SRC_DIR)/menu.c
$(call build,CC,$(CC) $(CFLAGS) -O3 -c -o $@ $<)
bmp.o: $(SRC_DIR)/bmp.c
$(call build,CC,$(CC) $(CFLAGS) -O3 -c -o $@ $<)
chdk-gui_draw.o: $(SRC_DIR)/chdk-gui_draw.c
$(call build,CC,$(CC) $(CFLAGS) -O3 -c -o $@ $<)
You can try to compile everything with -O3 too, it usually works, but the binary size will increase quite a bit.