I use a Simlink to one folder for every project so I just need to update one source. It is not ideal but is better than having every project copying the cocos sources.
Yea, this should work too without problems. But I like also fast compile times. With prebuilt libs of heavy cocos2d-x its dramatically faster.
And what about compilation? Does one cocos2d-x compilation is performed for all projects?
Totally agreed. Besides, a simple debug is a big pain in the heart
Most of the time yes. But for some reason there are times where the project must be recompiled.