Seems at least partially right.
My solutions:
nsteps with py 2.5 and psyco: 0.13 s
nsteps with py 2.5 and psyco: 0.16 s
So, I think one has to do some experimenting and checking what kind of operations CAN be processed really faster with py2.6+psyco and which cannot. As I see it, it is especially the input (and conversion from str to int) that are much slower now than with python 2.5.
Example https://www.spoj.pl/problems/INTEST/:
python 2.5 with psyco: 7.73 s
python 2.6 with psyco: 10.69 s