mod_python works as standalone, does not as service (Windows XP)

[Tau]

My mod_python 3.1.4 installation works when Apache 2.0.54 is run in
standalone mode (apache -k standalone) but refuses to operate when run
as a service (apache -k restart).

Logs yield the usual and well-known "make_obcallback: could not import
mod_python.apache" error. I have tried PYTHONHOME, LoadFile
python24.dll (2.4.2) with no result.

I have read *all* threads about make_obcallback that google found.
What's even weirder I had this module working yesterday but had to make
apache cleanup (fresh installation) and now this is completely stuck. I
remember that last time I just had to reinstall Apache over existing
mod_python files to get it working but this time it just pointless.

I thank everyone who understand differences between standalone and
service modes of Apache better than I do.