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The idea for introducing heapiter() function was
unsuccessfully proposed on python-dev:

 
http://mail.python.org/pipermail/python-dev/2004-June/045348.html

The use cases were rare and the pure python solution was
both easy and fast.

If you need C coded max-heaps, that could be a separate
feature request.  There would need to be sufficient use
cases to warrant building out the module's API.