I tried compiling the same Bukkit plugin on both a server VM and my laptop, as a benchmark test. I did it by first compiling the application (to force dependencies to download), then cleaning, and then compiling again. Only the results from the last compile were measured.
Laptop:

Server VM:

Note that I was using gradlew on the server because it doesn't have Gradle installed. However, Gradle 1.0-milestone-3 was used on both computers.
Stuff running on the laptop at the same time:
- Daemon tools lite
- Launchy
- Chrome
- ZoneAlarm Extreme Security
- Hamachi (disabled)
- LogMeIn
- Spotify
- CrashPlan (not backing up)
- BatteryCare
- Steam
- Dropbox
- Drivers
- Google Talk
- Soluto
- TortoiseHg Overlay Server
Some of the stuff running on the VM:
- Apache HTTPD
- Bukkit 1060
- Apache Tomcat
- OpenSSH Server
- Webmin
- ProFTPD
- BIND
- MySQL
- PostgreSQL
- Dovecot
- Postfix
Some of the stuff running on other VMs on the same physical server:
- Atlassian FishEye+Crucible
- Atlassian Crowd
- Proxmox (yes, this might seem a bit stupid)
- IgniteRealtime Openfire
Any tips about how to improve laptop performance?
Also, note that the server is running on desktop computer hardware, not server hardware, and they are both about a year old.
Benchmark source:
https://bitbucket.org/dontcare4free/bukkit-plugins. I ran :CraftXMPP:build explicitly on the server because the server has another plugin that I didn't want to include in the benchmark.