The psyco.classes module defines a practical metaclass that you can use in your applications. [Metaclasses were introduced in Python 2.2 only; this module contains no-op placeholders if you import it under Python 2.1.]
A metaclass is the type of a class. Just like a class controls how its instances behave, a metaclass controls how its classes behave. The purpose of the present metaclass is to make your classes more Psyco-friendly.
See http://www.python.org/2.2.2/descrintro.html for more information about old-style vs. new-style classes. Be aware of the changes in semantics, as recalled in section 2.2 (Psyco tutorial).
By using psyco.classes.psymetaclass as the metaclass of your commonly-used classes, you make all your classes new-style (Psyco can produce faster code to handle instances of these classes than old-style instances). Additionally, Psyco will call psyco.bind for you on all methods defined in the class (this does not include inherited parent methods or methods added after the class is first created).