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I don't know if this is a viable general-purpose fix.  Keep in 
mind that python tracks everything by references, and 
reloading doesn't correct existing bindings.  If you recompile it 
is going to screw up existing function pointers in 
PyCFunction objects.  In the example below calling a() will 
probably end up executing random code or generting a 
memory fault.

>>> import select
>>> a = select.select

... imaginary recompile ...

>>> reload(select)
<module 'select' from 'C:\Python24\DLLs\select.pyd'>
>>> b = select.select
>>> id(a)
18165472
>>> id(b)
18165476
>>> a() #BOOM!