Personally I think it's better to distribute .py files as these will then be compiled by the end-user's own python, which may be more patched.

What are the pros and cons of distributing .pyc files versus .py files for a commercial, closed-source python module?

In other words, are there any compelling reasons to distribute .pyc files?

Edit: In particular, if the .py/.pyc is accompanied by a DLL/SO module which is compiled against a certain version of Python.