Ok I gave psyco a try, and it works OK speeding things up 2 times as benchmarked. My OS is 32bit, running on 64bit machines so probably that's why I didn't run into the bug you're describing Jacob.
I had issues with the whole thing hanging on one machine, either because of the SVN FLUP version or with the newest psyco version I'm not sure since I didn't have time to look into this yet. But with psyco < 1.5 it works fine. Looking for another places to optimise. I'd like to handle my 30000 online customers on one dual xeon at some point haha :)