[mod_python] Quick question from mod_perl user

I have an application that I need to write in mod_python, and I was
curious if global variables persist like they do in mod_perl, or is
that a non issue with mod_python?

Also, can I set the handler to use a .pyc file instead of the source
file (.py) ?  Such as:

AddHandler mod_python .pyc


Thanks,

Chris