dllud just attended an intensive, 6 hours long, Makefile wizardry course.
Progress is clearly noticeable: Makefile now allows compilation and running of code in 4 different modes while minimizing complete rebuilds.
Remaining problems: running "make sim" followed by "make {all, program}" or vice-versa will introduce errors. There is the need to check the mcu selected during the previous compilation.
The novice wizard is now going to bed and probably forget most of the tricks he learnt.