I've created a Python Bytecode Verifier in Python. I'm not a Python guru so I borrowed coding patterns from C/C++. I also created this with C portability in mind. The only reason I used Python was to experiment with Python and was easier to morph code during development.
If this program were ported to C it would only need 8 bytes per opcode (some additional storage to track blocks) and a single pass. I haven't found backward jumps to previously unused code in any compiled Python code but it can easily be supported. In that case some more partial passes are required.
I also was able to successfully verify all Python files in the Python-2.5.2 source package.
The verification algorythm should be quite complete but I may have missed some limitations of the interpreter that could be checked by the verifier as well.
The ability to create this verfier proved that although Python bytecode is designed for a dynamically typed interpreter, is still easily verifiable. I am willing port this code C but only in the case if there is any chance to be included in Python.
I believe that Python in general would benefit having the ability to safely load .pyc files and create code objects on the fly.
Both Java and .NET have the ability to safely load compiled byte code. .NET Framework, just like Python also has the ability to create and execute new code at run-time.
You may feel that enabling closed source applications and/or creating a multi-language runtime would hurt Python but both of these have contributed to the success of Java (both the language and the runtime).