[pro] substitution macro lisp extension?

[Mark H. David]

  Is there any well-known implementation of a macro similar to old Lisp Machine's defsubst,
but not as fancy, one that simply emits a macro after doing a reasonable, if less than
perfect, attempt to do substitutions and guarantee first-to-last arg once-and-once-only evaluation?

I realize that most people just use declare inline for this kind of thing.  Or define a macro like
defsubst just to emit a defun with a declare-inline declaration.  I would like something that's
different: something that always emits a macro def given a function-like semantics for
args and body.

It's a pretty simple thing, but I was wondering if it's sitting around in a library somewhere.
What's out there?

Thanks,

Mark