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Yes, select must be fixed. There is another problem I
noticed in the meantime: the error codes raised by select()
on Windows are bogus, because Windows doesn't set errno, one
must use WSAGetLastError().

I have patched selectmodule.c, but currently I cannot create
a diff because of CVS problems. This patch class Sleep() if
the lists are empty.

It does not interrupt on a signal. This would require the
same code than someone (Mark?) changed recently in
timemodule.c, so that sleep() can be interrupted.

I'm unsure what to do: Leave it uninterruptable, copy the C
code over into selectmodule.c, or PyImport_Import the time
module and use the sleep() function, or whatever.
The function in question is timemodule.c, floatsleep().