The current docstring for compile suggests that the flags are strictly for selecting future statements.  These are not the only flags.

It also suggests that the source must be source code and the result will be bytecode, which isn't quite true.

I suggest changing:

"The flags argument, if present, controls which future statements influence the compilation of the code."

to:

"The flags argument, if present, largely controls which future 
statements influence the compilation of the code.  (Additional 
flags are documented in the AST module.)"