Importing User-defined Modules

[Walter Brunswick]

I need to import modules with user-defined file extensions that differ from '.py', and also (if possible) redirect the bytecode 
output of the file to a file of a user-defined extension.
I've already read PEP 302 (http://www.python.org/peps/pep-0302.html), but I didn't fully understand it. Would someone [who 
understands it] please be able to give me a synopsis of it, along with a few explanatory examples, or some other alternatives, if 
any?