If it were really expensive to derive bytecode from source text then maybe it'd make sense to do what you're doing, but surely that's not all that expensive. Everyone else manages to parse prosrc on the fly and cache the result in memory; why isn't plpython doing that?
It depends on the number of imported modules in the function. If it imports a lot of modules, it can take some time to compile a python function (especially if the modules have some initialisation code which must be run on import).
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