I wrote a script to automate these steps as well as taking a few options to allow me to:

- adb clean (because chasing syntax errors that don't exist is a headache)

- run my (shockingly limited) test suite

- copy the .apk to a shared Dropbox directory that I use to let a few people help me test nightly builds

Without the tests the full build takes a few seconds (on MBP from March 2011).