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I don't think this patch will address the underlying
problem.  There are many DECREFs (and no XDECREFs) of
last->text.  It seems that the code believes there cannot be
a NULL.  Perhaps all the DECREFs of last->text should be
XDECREF?

I would really like this to get done for 2.5, but it
shouldn't block release.  Dropping priority.