abuild is a great tool to check whether your tree compiles for one or all targets.
If you invoke abuild with no parameters, it will build all boards automatically. The resulting images and logs will end up in the coreboot-builds/ subdirectory of the current directory.
To build the thomson ip1000 target, run
cd util/abuild; abuild -t thomson/ip1000
The build log will be in util/abuild/coreboot-builds/thomson_ip1000/make.log
As an alternative, you can build in the top level directory.
util/abuild/abuild -t thomson/ip1000 $PWD
You can also specify a payload directory with -p
mkdir payloads cp /somewhere/filo.elf payloads
then add a file payloads/payload.sh which prints the name of the payload to use (and takes the mainboard as a parameter) such as
echo "`dirname $0`/build/filo.elf"
then you can build a fully working image with payload by specifying:
util/abuild/abuild -t thomson/ip1000 -p ./payloads $PWD
Specify -c max or -c 2 if you have an SMP system, to speed compilation up.