I meant two say things, and tried to be clever at the expense of being understood :-(.
I think the cleanest way to handle None as a keyword is via a LOAD_NONE opcode. LOAD_NONE would replace two different mechanisms that the compiler currently uses -- LOAD_GLOBAL 'None' and LOAD_CONST 0 (None).
While I think LOAD_NONE would result in a tidy state of affairs, and I think it would be marginally faster, I don't think the performance effect would be measurable on any interesting benchmark.
I don't care how much faster it is, though.