New to Python - Compiled Language?

[Relee Squirrel]

Please reply both here and directly to my email address 
relee_s at hotmail.com

I just found out about Python today and it sounds very interesting, 
but I'm having trouble finding solid information about my main 
question. Is Python a compiled language, or merely a sequence of 
commands fed into a seperate program?

The impression I get from www.python.org is that it is a compiled 
very high level language, which is extendable via C++. I'm a C++ 
programmer and the tools and utilities referred to existing in Python 
would increase the development time of my projects. However, what I'm 
creating are programs, not just scripts.

Is Python a language which can be compiled into an executable program?