This is really two questions, but they are so similar, and to keep it simple, I figured I\'d just roll them together:
Firstly: Given an est
I'm surprised no one mentioned ShedSkin: http://code.google.com/p/shedskin/, it automagically converts your python program to C++ and in some benchmarks yields better improvements than psyco in speed.
Plus anecdotal stories on the simplicity: http://pyinsci.blogspot.com/2006/12/trying-out-latest-release-of-shedskin.html
There are limitations though, please see: http://tinyurl.com/shedskin-limitations