It _is_ compiled.
You have to copy the corect binaries to the correct place.
Take a look at you untared version and the one you've downloaded. You will find additional (compiled) files in every directory.
My previous post tells exactly what i've done. To see what a 'make install' would do, take a look at every Makefile in every directory for the exact location where the compiled file would be placed.
You've got it all, just a little more reading and understanding. Which ofcource I understand for I started a while back just like you did and benefited from advice, suggestions, instructions from all the other guys and galls over here

Anyway, the files compiled files are there (what you have downloaded) you just have to figure out where to place them. This will be included inmy next how-to just like in the previous one.
Regards,
guestHH