Is there some way to obfuscate C-based executables or libraries to prevent decompilation?
Decompilation (No More Gotos) and both obfuscation practice (Flowtables) and theory (Indistinguishability Obfuscation) are active areas of research and therefore there are no solutions - only tools, techniques and expertise. If you really want your code to be impervious to decomplilation, create a web app, and put the sensitive code server side. But if you're stuck to the model of giving someone a binary, then you must wisely judge the trade-off you want to make between security and performance. Obfuscation comes at a cost, and still is never perfect. Some options
Don't be discouraged by Barak et al's seminal work on the impossibility of black box obfuscation. He only proves the impossibility of black box obfuscators, not the impossibility of many practical and worthwhile obfuscations. (Black box obfuscation being the inner workings of the program are completely unintelligible) Also don't be discouraged by pirates. There's always people who make it a point to buy your product if it is good.