Compiling mysql-python shouldn’t have been too complicated, since distutils automates the compilation process, but there were two minor issues.
This particular module needed the /MANIFEST linker option, and the windows setup script didn’t work properly.
After fixing both of those problems, I present the compiled binaries (MySQL-python-1.2.3c1.win32-py2.6.exe (213)), and the fixed setup_windows.py (mysql-python-setup_windows.py (221)), if you want to compile mysql-python yourself.