Only 5GB? You must have the android sources installed yet. They're a good 40GB or so.
I've been building android from the sources for a couple of years now. My experience has been that you need the biggest, fastest server you can get your hands on with fast SSD or a SATA 3 RAID array. Android build time (from scratch) on a 2.8GHz Core i7 with 6GB of RAM and SATA 3 rotating hard drive runs around 45 mins. Build time on a 2GHz Core i7 with 16GB of RAM and a SATA 3 SSD drive runs around 30 minutes.
An incremental build of the entire android tree can take just a minute or two on a really fast system (1:08 on my Core i7 with the SSD drive, and the build system does allow you to build individual subsystems, so if most of the work in going on in customizing uboot or the kernel, you're in really good shape. On the other hand, if most of the work is on the android components, you're looking at potentially long build times, depending on the amount of changes.
The entire android build tree runs under make; it's huge, and you won't want to try to swap it out for something else. Even if you tried, the amount of regression testing needed to verify that it works properly would be prohibitive.
YMMV.