It would be nice to see Rpython/pypy turned into a project not unlike WebKit where many different projects benefit from the same open-source core. If pypy is flexible enough to implement all of ruby and all of Python, has a reasonable amount of maturity, and is already rather fast it seems like a good candidate for such a thing.
2. get and extract the PyPy source[1] from bitbucket release packages, which includes the RPython translator, written itself in Python and, although working on CPython, best run under PyPy as installed on step 1.
3. write a (R)Python module including a def target returning the entry point function[2], and call the translator upon your module, like so:
I wish getting the translator was more 'packaged' and did not involve getting the whole PyPy source but I hear this is in the works, and it is reasonably easy already. The hardest part is actually figuring the translator is not part of PyPy binary release, and that it's available straight from bitbucket.
http://tratt.net/laurie/tech_articles/articles/fast_enough_v... is probably the best example, because — as far as I know — outside of having reimplemented his Converge in RPython Laurence Tratt is not affiliated with the pypy project in any way, shape or form.
