Smitty: well, the script has been reported multiple times to work on Ubuntu 10.04
The key to the build script working,
if you let the script's default of PREFIX being $HOME (i.e. per-user installation), is proper value of the PKG_CONFIG_PATH and LD_LIBRARY_PATH environment variables. In such a case, in your ~/.bashrc, you'll have to add the following lines such as
export LD_LIBRARY_PATH=$HOME/lib:$LD_LIBRARY_PATH
export PKG_CONFIG_PATH=$HOME/lib/pkgconfig:$PKG_CONFIG_PATH
and run `source ~/.bashrc`.
You can also modify the PREFIX to replace $HOME by /usr, in which case you will have to execute install_tilp.sh with sudo, and you won't have to modify LD_LIBRARY_PATH and PKG_CONFIG_PATH.
As usual, don't hesitate to report back