Hmmm, it seems I was being too optimistic...
After the above modifications the compile went, but then bombed, since it tried to use libs from /usr/lib/ instead of the arm ones when linking...
I made some more mods to the bb file and then it fell apart completely, now I can't bitbake anything...
Well, I'm updating to the latest OE.db now, then will go check the local.conf file again, and try again.
I'll report on my progress, hopefully will move further.
Thanks for helping me.
I'll be back.