Nadeem Vawda added the comment:

I've released v0.95 of bz2file, which incorporates all the optimizations 
discussed here. The performance should be similar to 2.x's bz2 in most cases.

It is still a lot slower when calling read(10) or read(1), but I hope no-one is 
doing that anywhere where performance is important ;-)

One other note: bz2file's readline() is faster when running on 3.x than on 2.x 
(and in some cases faster than the 2.x stdlib version). This is probably due to 
improvements made to io.BufferedIOBase.readline() since 2.7, but I haven't had 
a chance to investigate this.

Let me know if you have any issues with the new release.

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<http://bugs.python.org/issue16034>
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