Continuing the ongoing saga…
Using the --silence hackery from Jacob Berkman I found a way to finally STFU at least libtool. In your configure.ac add:
changequote(,)dnl LIBTOOL="\\$(QUIET_LT)${LIBTOOL}" changequote([,])dnl
Add a Makefile.decls file to the root of your project, containing:
QUIET_LT = @echo '    ' LIBTOOL $@;
And include it in every Makefile.am:
include $(top_srcdir)/Makefile.decls
This will silence all libtool invocations; you can make this all conditional, obviously: just sorround the QUIET_* declarations with if VARIABLE...endif and define VARIABLE using AM_CONDITIONAL in your configure template.
Now, I’ll just have to find a way to make gcc shut up ((no, you cannot redefine CC, as it will be invoked by libtool as well)), and so the saga will end with a third chapter.