To use it, simply add this to your .htaccess file:
SetHandler python-program PythonHandler cgihandler
The cgihandler reloads the module for every hit. However, the modules imported by the main module do not get reloaded. This is good for performance, but if your CGI scripts relied on this functionality, they will be broken.
In my tests, the cgihandler was leaking some memory. I haven't been able to figure out why, I suspect it has something to do with having to reload the same module a lot.