Squisher -- a lightweight, self-contained alternative to eggs?

[Adam Atlas]

I wrote this little program called Squisher that takes a ZIP file
containing Python modules and generates a totally self-contained .pyc
file that imports a specified module therein. (Conveniently, Python's
bytecode parser ignores anything after an end marker, and the
zipimport mechanism skips any non-ZIP data at the beginning of a
file!) For example, say you have a directory called 'foo', which
contains an __init__.py, which contains "print 'hello'; x = 123", and
a thing.py, which contains "y = 456". If you make a ZIP archive of
this and run it through Squisher, you'll get a single .pyc file which
can be imported by any Python installation anywhere just like any
other module, without requiring users to install any supporting
mechanisms (like setuptools), and giving all the flexibility and
stability of zipimport. In other words, you can do this simply by
dropping the foo.pyc file into a directory:

>>> import foo
hello
>>> foo.x
123
>>> from foo.thing import y
>>> y
456

Of course, this is a stupid and useless example, but you can do it
with any package you could use as an egg, yet without requiring people
to install setuptools (or any other external glue) to use it. I've
tested it with several large packages, including SQLAlchemy.

Right now I'm just testing and polishing up the code... in the
meantime, any comments?