Using the --record argument with distutils' install command currently assumes that all .py files can be compiled (and optimized) successfully. 

If this is not the case for whatever reason, you end up with invalid entries in the record list. install_lib._bytecode_filenames() should verify, if the file could be created successfully (by e.g. checking for its existence) or the util.byte_compile() function should return a value that indicates, if the byte-compiled (or optimized) file could be created, so that the subsequent call to _bytecode_filenames() receives a list with valid entries.

The issue can be recreated with e.g. http://pypi.python.org/pypi/Products.PasswordResetTool, which will create invalid entries for skins/PasswordReset/pwreset_constructURL.py,
which acts as template/fragment.