Just a quick one tyo save a few headaches ;)
If you recently upgraded to portage-2.1.10.34 or 2.2.0_alpha74, you might want to read the Changelog:
*portage-2.2.0_alpha74 (11 Nov 2011)
11 Nov 2011; Zac Medico <zmedico@gentoo.org> +portage-2.2.0_alpha74.ebuild,-portage-2.2.0_alpha73.ebuild: 2.2.0_alpha74 version bump. This includes the --quiet-build change that's in portage-2.1.10.34. Bug #210077 tracks all bugs fixed since portage-2.1.x.
*portage-2.1.10.34 (11 Nov 2011)
11 Nov 2011; Zac Medico <zmedico@gentoo.org> +portage-2.1.10.34.ebuild,-portage-2.1.10.33.ebuild:
2.1.10.34 version bump. The emerge --quiet-build option is now enabled by default. Set --quiet-build=n in MERGE_DEFAULT_OPTS if you want to disable it by default. See the emerge(1) man page for more information about this option. Bug #381649 tracks all bugs fixed since portage-2.1.10.11.
So for those of you (like me) who want the old behaviour back, just append:
EMERGE_DEFAULT_OPTS="--quiet-build=n"
to your make.conf
Cheers!