Eve from Adams' Ribs

[Godwin]

www.devx.com/dbzone/Article/22093

U've made a point and i have seen that approach in the above article.
But i was curious about creating python classes and code on fly. The
only way i could do it was by using exec function. Is there a standard
way of doing it. What are the plus points of such kind of programming?
Is it only done by hackers?

Sorry for asking the wrong question for getting the right answer!