Okay, here's the prototype... <http://adamatlas.org/2007/03/Squisher-0.1.py> It's meant to be run as a command line program (pass it a directory or a zip file as an argument). By default it will save the new file to the argument's base name plus '.pyc'. You can override this with -o.
Obviously it's very much a work in progress... try it out and let me know the results. -- http://mail.python.org/mailman/listinfo/python-list