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Additional info regarding the current situation (with the patch in place):
if warnings.py can't be imported before site.py is run, _all_ warnings issued from C will be printed to stderr, even if warnings.py _can_ be imported later.

I think it's fair to assume that any warning issued during the import of site.py signifies that something is pretty broken, so having them dumped to stderr isn't all that bad.

If you and Mark agree, I'll move the import of warnings.py to after initsite().