diff --git a/Python/ceval.c b/Python/ceval.c
index 419ecfa..88b9d0e 100644
--- a/Python/ceval.c
+++ b/Python/ceval.c
@@ -764,8 +764,8 @@
 /* OpCode prediction macros
 	Some opcodes tend to come in pairs thus making it possible to
 	predict the second code when the first is run.  For example,
-	COMPARE_OP is often followed by JUMP_IF_FALSE or JUMP_IF_TRUE.  And,
-	those opcodes are often followed by a POP_TOP.
+	GET_ITER is often followed by FOR_ITER. And FOR_ITER is often
+	followed by STORE_FAST or UNPACK_SEQUENCE.
 
 	Verifying the prediction costs a single high-speed test of a register
 	variable against a constant.  If the pairing was good, then the
@@ -1110,7 +1110,6 @@
 			SETLOCAL(oparg, v);
 			goto fast_next_opcode;
 
-		PREDICTED(POP_TOP);
 		case POP_TOP:
 			v = POP();
 			Py_DECREF(v);
@@ -2220,8 +2219,8 @@
 			Py_DECREF(w);
 			SET_TOP(x);
 			if (x == NULL) break;
-			PREDICT(JUMP_IF_FALSE);
-			PREDICT(JUMP_IF_TRUE);
+			PREDICT(POP_JUMP_IF_FALSE);
+			PREDICT(POP_JUMP_IF_TRUE);
 			continue;
 
 		case IMPORT_NAME:
@@ -2298,44 +2297,95 @@
 			JUMPBY(oparg);
 			goto fast_next_opcode;
 
-		PREDICTED_WITH_ARG(JUMP_IF_FALSE);
-		case JUMP_IF_FALSE:
-			w = TOP();
+		PREDICTED_WITH_ARG(POP_JUMP_IF_FALSE);
+		case POP_JUMP_IF_FALSE:
+			w = POP();
 			if (w == Py_True) {
-				PREDICT(POP_TOP);
+				Py_DECREF(w);
 				goto fast_next_opcode;
 			}
 			if (w == Py_False) {
-				JUMPBY(oparg);
+				Py_DECREF(w);
+				JUMPTO(oparg);
 				goto fast_next_opcode;
 			}
 			err = PyObject_IsTrue(w);
+			Py_DECREF(w);
 			if (err > 0)
 				err = 0;
 			else if (err == 0)
-				JUMPBY(oparg);
+				JUMPTO(oparg);
 			else
 				break;
 			continue;
 
-		PREDICTED_WITH_ARG(JUMP_IF_TRUE);
-		case JUMP_IF_TRUE:
-			w = TOP();
+		PREDICTED_WITH_ARG(POP_JUMP_IF_TRUE);
+		case POP_JUMP_IF_TRUE:
+			w = POP();
 			if (w == Py_False) {
-				PREDICT(POP_TOP);
+				Py_DECREF(w);
 				goto fast_next_opcode;
 			}
 			if (w == Py_True) {
-				JUMPBY(oparg);
+				Py_DECREF(w);
+				JUMPTO(oparg);
+				goto fast_next_opcode;
+			}
+			err = PyObject_IsTrue(w);
+			Py_DECREF(w);
+			if (err > 0) {
+				err = 0;
+				JUMPTO(oparg);
+			}
+			else if (err == 0)
+				;
+			else
+				break;
+			continue;
+
+		case JUMP_IF_FALSE_OR_POP:
+			w = TOP();
+			if (w == Py_True) {
+				STACKADJ(-1);
+				Py_DECREF(w);
+				goto fast_next_opcode;
+			}
+			if (w == Py_False) {
+				JUMPTO(oparg);
+				goto fast_next_opcode;
+			}
+			err = PyObject_IsTrue(w);
+			if (err > 0) {
+				STACKADJ(-1);
+				Py_DECREF(w);
+				err = 0;
+			}
+			else if (err == 0)
+				JUMPTO(oparg);
+			else
+				break;
+			continue;
+
+		case JUMP_IF_TRUE_OR_POP:
+			w = TOP();
+			if (w == Py_False) {
+				STACKADJ(-1);
+				Py_DECREF(w);
+				goto fast_next_opcode;
+			}
+			if (w == Py_True) {
+				JUMPTO(oparg);
 				goto fast_next_opcode;
 			}
 			err = PyObject_IsTrue(w);
 			if (err > 0) {
 				err = 0;
-				JUMPBY(oparg);
+				JUMPTO(oparg);
 			}
-			else if (err == 0)
-				;
+			else if (err == 0) {
+				STACKADJ(-1);
+				Py_DECREF(w);
+			}
 			else
 				break;
 			continue;
diff --git a/Python/compile.c b/Python/compile.c
index a252bd1..69321ae 100644
--- a/Python/compile.c
+++ b/Python/compile.c
@@ -836,11 +836,15 @@
 			return 1;
 
 		case JUMP_FORWARD:
-		case JUMP_IF_FALSE:
-		case JUMP_IF_TRUE:
+		case JUMP_IF_TRUE_OR_POP:  /* -1 if jump not taken */
+		case JUMP_IF_FALSE_OR_POP:  /*  "" */
 		case JUMP_ABSOLUTE:
 			return 0;
 
+		case POP_JUMP_IF_FALSE:
+		case POP_JUMP_IF_TRUE:
+			return -1;
+
 		case LOAD_GLOBAL:
 			return 1;
 
@@ -1499,12 +1503,10 @@
 	if (next == NULL)
 		return 0;
 	VISIT(c, expr, e->v.IfExp.test);
-	ADDOP_JREL(c, JUMP_IF_FALSE, next);
-	ADDOP(c, POP_TOP);
+	ADDOP_JABS(c, POP_JUMP_IF_FALSE, next);
 	VISIT(c, expr, e->v.IfExp.body);
 	ADDOP_JREL(c, JUMP_FORWARD, end);
 	compiler_use_next_block(c, next);
-	ADDOP(c, POP_TOP);
 	VISIT(c, expr, e->v.IfExp.orelse);
 	compiler_use_next_block(c, end);
 	return 1;
@@ -1597,9 +1599,6 @@
 	end = compiler_new_block(c);
 	if (end == NULL)
 		return 0;
-	next = compiler_new_block(c);
-	if (next == NULL)
-	    return 0;
 	
 	constant = expr_constant(s->v.If.test);
 	/* constant = 0: "if 0"
@@ -1611,15 +1610,21 @@
 	} else if (constant == 1) {
 		VISIT_SEQ(c, stmt, s->v.If.body);
 	} else {
+		if (s->v.If.orelse) {
+			next = compiler_new_block(c);
+			if (next == NULL)
+			    return 0;
+		}
+		else
+			next = end;
 		VISIT(c, expr, s->v.If.test);
-		ADDOP_JREL(c, JUMP_IF_FALSE, next);
-		ADDOP(c, POP_TOP);
+		ADDOP_JABS(c, POP_JUMP_IF_FALSE, next);
 		VISIT_SEQ(c, stmt, s->v.If.body);
 		ADDOP_JREL(c, JUMP_FORWARD, end);
-		compiler_use_next_block(c, next);
-		ADDOP(c, POP_TOP);
-		if (s->v.If.orelse)
+		if (s->v.If.orelse) {
+			compiler_use_next_block(c, next);
 			VISIT_SEQ(c, stmt, s->v.If.orelse);
+		}
 	}
 	compiler_use_next_block(c, end);
 	return 1;
@@ -1693,8 +1698,7 @@
 		   so we need to set an extra line number. */
 		c->u->u_lineno_set = false;
 		VISIT(c, expr, s->v.While.test);
-		ADDOP_JREL(c, JUMP_IF_FALSE, anchor);
-		ADDOP(c, POP_TOP);
+		ADDOP_JABS(c, POP_JUMP_IF_FALSE, anchor);
 	}
 	VISIT_SEQ(c, stmt, s->v.While.body);
 	ADDOP_JABS(c, JUMP_ABSOLUTE, loop);
@@ -1705,7 +1709,6 @@
 
 	if (constant == -1) {
 		compiler_use_next_block(c, anchor);
-		ADDOP(c, POP_TOP);
 		ADDOP(c, POP_BLOCK);
 	}
 	compiler_pop_fblock(c, LOOP, loop);
@@ -1826,20 +1829,17 @@
    [tb, val, exc]	L1:	DUP				)
    [tb, val, exc, exc]		<evaluate E1>			)
    [tb, val, exc, exc, E1]	COMPARE_OP	EXC_MATCH	) only if E1
-   [tb, val, exc, 1-or-0]	JUMP_IF_FALSE	L2		)
-   [tb, val, exc, 1]		POP				)
+   [tb, val, exc, 1-or-0]	POP_JUMP_IF_FALSE	L2	)
    [tb, val, exc]		POP
    [tb, val]			<assign to V1>	(or POP if no V1)
    [tb]				POP
    []				<code for S1>
 				JUMP_FORWARD	L0
    
-   [tb, val, exc, 0]	L2:	POP
-   [tb, val, exc]		DUP
+   [tb, val, exc]	L2:	DUP
    .............................etc.......................
 
-   [tb, val, exc, 0]	Ln+1:	POP
-   [tb, val, exc]		END_FINALLY	# re-raise exception
+   [tb, val, exc]	Ln+1:	END_FINALLY	# re-raise exception
    
    []			L0:	<next statement>
    
@@ -1881,8 +1881,7 @@
 			ADDOP(c, DUP_TOP);
 			VISIT(c, expr, handler->v.ExceptHandler.type);
 			ADDOP_I(c, COMPARE_OP, PyCmp_EXC_MATCH);
-			ADDOP_JREL(c, JUMP_IF_FALSE, except);
-			ADDOP(c, POP_TOP);
+			ADDOP_JABS(c, POP_JUMP_IF_FALSE, except);
 		}
 		ADDOP(c, POP_TOP);
 		if (handler->v.ExceptHandler.name) {
@@ -1895,8 +1894,6 @@
 		VISIT_SEQ(c, stmt, handler->v.ExceptHandler.body);
 		ADDOP_JREL(c, JUMP_FORWARD, end);
 		compiler_use_next_block(c, except);
-		if (handler->v.ExceptHandler.type)
-			ADDOP(c, POP_TOP);
 	}
 	ADDOP(c, END_FINALLY);
 	compiler_use_next_block(c, orelse);
@@ -2084,8 +2081,7 @@
 	end = compiler_new_block(c);
 	if (end == NULL)
 		return 0;
-	ADDOP_JREL(c, JUMP_IF_TRUE, end);
-	ADDOP(c, POP_TOP);
+	ADDOP_JABS(c, POP_JUMP_IF_TRUE, end);
 	ADDOP_O(c, LOAD_GLOBAL, assertion_error, names);
 	if (s->v.Assert.msg) {
 		VISIT(c, expr, s->v.Assert.msg);
@@ -2095,7 +2091,6 @@
 		ADDOP_I(c, RAISE_VARARGS, 1);
 	}
 	compiler_use_next_block(c, end);
-	ADDOP(c, POP_TOP);
 	return 1;
 }
 
@@ -2473,9 +2468,9 @@
 
 	assert(e->kind == BoolOp_kind);
 	if (e->v.BoolOp.op == And)
-		jumpi = JUMP_IF_FALSE;
+		jumpi = JUMP_IF_FALSE_OR_POP;
 	else
-		jumpi = JUMP_IF_TRUE;
+		jumpi = JUMP_IF_TRUE_OR_POP;
 	end = compiler_new_block(c);
 	if (end == NULL)
 		return 0;
@@ -2484,8 +2479,7 @@
 	assert(n >= 0);
 	for (i = 0; i < n; ++i) {
 		VISIT(c, expr, (expr_ty)asdl_seq_GET(s, i));
-		ADDOP_JREL(c, jumpi, end);
-		ADDOP(c, POP_TOP)
+		ADDOP_JABS(c, jumpi, end);
 	}
 	VISIT(c, expr, (expr_ty)asdl_seq_GET(s, n));
 	compiler_use_next_block(c, end);
@@ -2543,9 +2537,8 @@
 		ADDOP_I(c, COMPARE_OP,
 			cmpop((cmpop_ty)(asdl_seq_GET(
 						  e->v.Compare.ops, i - 1))));
-		ADDOP_JREL(c, JUMP_IF_FALSE, cleanup);
+		ADDOP_JABS(c, JUMP_IF_FALSE_OR_POP, cleanup);
 		NEXT_BLOCK(c);
-		ADDOP(c, POP_TOP);
 		if (i < (n - 1))
 		    VISIT(c, expr, 
 			    (expr_ty)asdl_seq_GET(e->v.Compare.comparators, i));
@@ -2636,9 +2629,8 @@
 	for (i = 0; i < n; i++) {
 		expr_ty e = (expr_ty)asdl_seq_GET(l->ifs, i);
 		VISIT(c, expr, e);
-		ADDOP_JREL(c, JUMP_IF_FALSE, if_cleanup);
+		ADDOP_JABS(c, POP_JUMP_IF_FALSE, if_cleanup);
 		NEXT_BLOCK(c);
-		ADDOP(c, POP_TOP);
 	} 
 
 	if (++gen_index < asdl_seq_LEN(generators))
@@ -2652,12 +2644,7 @@
 
 	    compiler_use_next_block(c, skip);
 	}
-	for (i = 0; i < n; i++) {
-		ADDOP_I(c, JUMP_FORWARD, 1);
-		if (i == 0)
-		    compiler_use_next_block(c, if_cleanup);
-		ADDOP(c, POP_TOP);
-	} 
+	compiler_use_next_block(c, if_cleanup);
 	ADDOP_JABS(c, JUMP_ABSOLUTE, start);
 	compiler_use_next_block(c, anchor);
 	
@@ -2720,10 +2707,9 @@
 	for (i = 0; i < n; i++) {
 		expr_ty e = (expr_ty)asdl_seq_GET(ge->ifs, i);
 		VISIT(c, expr, e);
-		ADDOP_JREL(c, JUMP_IF_FALSE, if_cleanup);
+		ADDOP_JABS(c, POP_JUMP_IF_FALSE, if_cleanup);
 		NEXT_BLOCK(c);
-		ADDOP(c, POP_TOP);
-	} 
+	}
 
 	if (++gen_index < asdl_seq_LEN(generators))
 		if (!compiler_genexp_generator(c, generators, gen_index, elt))
@@ -2737,13 +2723,7 @@
 
 		compiler_use_next_block(c, skip);
 	}
-	for (i = 0; i < n; i++) {
-		ADDOP_I(c, JUMP_FORWARD, 1);
-		if (i == 0)
-			compiler_use_next_block(c, if_cleanup);
-
-		ADDOP(c, POP_TOP);
-	} 
+	compiler_use_next_block(c, if_cleanup);
 	ADDOP_JABS(c, JUMP_ABSOLUTE, start);
 	compiler_use_next_block(c, anchor);
 	ADDOP(c, POP_BLOCK);
diff --git a/Python/import.c b/Python/import.c
index b00986c..98b8dce 100644
--- a/Python/import.c
+++ b/Python/import.c
@@ -72,9 +72,11 @@
        Python 2.6a0: 62151 (peephole optimizations and STORE_MAP opcode)
        Python 2.6a1: 62161 (WITH_CLEANUP optimization)
        Python 2.7a0: 62171 (optimize list comprehensions/change LIST_APPEND)
+       Python 2.7a0: 62181 (optimize conditional branches:
+			    introduce POP_JUMP_IF_FALSE and POP_JUMP_IF_TRUE)
 .
 */
-#define MAGIC (62171 | ((long)'\r'<<16) | ((long)'\n'<<24))
+#define MAGIC (62181 | ((long)'\r'<<16) | ((long)'\n'<<24))
 
 /* Magic word as global; note that _PyImport_Init() can change the
    value of this global to accommodate for alterations of how the
diff --git a/Python/peephole.c b/Python/peephole.c
index e9da377..a3dda9c 100644
--- a/Python/peephole.c
+++ b/Python/peephole.c
@@ -13,7 +13,12 @@
 
 #define GETARG(arr, i) ((int)((arr[i+2]<<8) + arr[i+1]))
 #define UNCONDITIONAL_JUMP(op)	(op==JUMP_ABSOLUTE || op==JUMP_FORWARD)
-#define ABSOLUTE_JUMP(op) (op==JUMP_ABSOLUTE || op==CONTINUE_LOOP)
+#define CONDITIONAL_JUMP(op) (op==POP_JUMP_IF_FALSE || op==POP_JUMP_IF_TRUE \
+	|| op==JUMP_IF_FALSE_OR_POP || op==JUMP_IF_TRUE_OR_POP)
+#define ABSOLUTE_JUMP(op) (op==JUMP_ABSOLUTE || op==CONTINUE_LOOP \
+	|| op==POP_JUMP_IF_FALSE || op==POP_JUMP_IF_TRUE \
+	|| op==JUMP_IF_FALSE_OR_POP || op==JUMP_IF_TRUE_OR_POP)
+#define JUMPS_ON_TRUE(op) (op==POP_JUMP_IF_TRUE || op==JUMP_IF_TRUE_OR_POP)
 #define GETJUMPTGT(arr, i) (GETARG(arr,i) + (ABSOLUTE_JUMP(arr[i]) ? 0 : i+3))
 #define SETARG(arr, i, val) arr[i+2] = val>>8; arr[i+1] = val & 255
 #define CODESIZE(op)  (HAS_ARG(op) ? 3 : 1)
@@ -245,8 +250,10 @@
 		switch (opcode) {
 			case FOR_ITER:
 			case JUMP_FORWARD:
-			case JUMP_IF_FALSE:
-			case JUMP_IF_TRUE:
+			case JUMP_IF_FALSE_OR_POP:
+			case JUMP_IF_TRUE_OR_POP:
+			case POP_JUMP_IF_FALSE:
+			case POP_JUMP_IF_TRUE:
 			case JUMP_ABSOLUTE:
 			case CONTINUE_LOOP:
 			case SETUP_LOOP:
@@ -338,29 +345,24 @@
 	assert(PyList_Check(consts));
 
 	for (i=0 ; i<codelen ; i += CODESIZE(codestr[i])) {
+	  reoptimize_current:
 		opcode = codestr[i];
 
 		lastlc = cumlc;
 		cumlc = 0;
 
 		switch (opcode) {
-
-			/* Replace UNARY_NOT JUMP_IF_FALSE POP_TOP with 
-			   with	   JUMP_IF_TRUE POP_TOP */
+			/* Replace UNARY_NOT POP_JUMP_IF_FALSE 
+			   with    POP_JUMP_IF_TRUE */
 			case UNARY_NOT:
-				if (codestr[i+1] != JUMP_IF_FALSE  ||
-				    codestr[i+4] != POP_TOP  ||
-				    !ISBASICBLOCK(blocks,i,5))
+				if (codestr[i+1] != POP_JUMP_IF_FALSE
+				    || !ISBASICBLOCK(blocks,i,4))
 					continue;
-				tgt = GETJUMPTGT(codestr, (i+1));
-				if (codestr[tgt] != POP_TOP)
-					continue;
-				j = GETARG(codestr, i+1) + 1;
-				codestr[i] = JUMP_IF_TRUE;
+				j = GETARG(codestr, i+1);
+				codestr[i] = POP_JUMP_IF_TRUE;
 				SETARG(codestr, i, j);
-				codestr[i+3] = POP_TOP;
-				codestr[i+4] = NOP;
-				break;
+				codestr[i+3] = NOP;
+				goto reoptimize_current;
 
 				/* not a is b -->  a is not b
 				   not a in b -->  a not in b
@@ -400,16 +402,16 @@
 				break;
 
 				/* Skip over LOAD_CONST trueconst
-                                   JUMP_IF_FALSE xx  POP_TOP */
+				   POP_JUMP_IF_FALSE xx. This improves
+				   "while 1" performance. */
 			case LOAD_CONST:
 				cumlc = lastlc + 1;
 				j = GETARG(codestr, i);
-				if (codestr[i+3] != JUMP_IF_FALSE  ||
-				    codestr[i+6] != POP_TOP  ||
-				    !ISBASICBLOCK(blocks,i,7)  ||
+				if (codestr[i+3] != POP_JUMP_IF_FALSE  ||
+				    !ISBASICBLOCK(blocks,i,6)  ||
 				    !PyObject_IsTrue(PyList_GET_ITEM(consts, j)))
 					continue;
-				memset(codestr+i, NOP, 7);
+				memset(codestr+i, NOP, 6);
 				cumlc = 0;
 				break;
 
@@ -498,27 +500,49 @@
 				   "if a or b:"
 				   "a and b or c"
 				   "(a and b) and c"
-				   x:JUMP_IF_FALSE y   y:JUMP_IF_FALSE z  -->  x:JUMP_IF_FALSE z
-				   x:JUMP_IF_FALSE y   y:JUMP_IF_TRUE z	 -->  x:JUMP_IF_FALSE y+3
+				   x:JUMP_IF_FALSE_OR_POP y   y:JUMP_IF_FALSE_OR_POP z
+				      -->  x:JUMP_IF_FALSE_OR_POP z
+				   x:JUMP_IF_FALSE_OR_POP y   y:JUMP_IF_TRUE_OR_POP z
+				      -->  x:POP_JUMP_IF_FALSE y+3
 				   where y+3 is the instruction following the second test.
 				*/
-			case JUMP_IF_FALSE:
-			case JUMP_IF_TRUE:
+			case JUMP_IF_FALSE_OR_POP:
+			case JUMP_IF_TRUE_OR_POP:
 				tgt = GETJUMPTGT(codestr, i);
 				j = codestr[tgt];
-				if (j == JUMP_IF_FALSE	||  j == JUMP_IF_TRUE) {
-					if (j == opcode) {
-						tgttgt = GETJUMPTGT(codestr, tgt) - i - 3;
+				if (CONDITIONAL_JUMP(j)) {
+					/* NOTE: all possible jumps here are
+					   absolute! */
+					if (JUMPS_ON_TRUE(j) == JUMPS_ON_TRUE(opcode)) {
+						/* The second jump will be
+						   taken iff the first is. */
+						tgttgt = GETJUMPTGT(codestr, tgt);
+						/* The current opcode inherits
+						   its target's stack behaviour */
+						codestr[i] = j;
 						SETARG(codestr, i, tgttgt);
+						goto reoptimize_current;
 					} else {
-						tgt -= i;
-						SETARG(codestr, i, tgt);
+						/* The second jump is not taken
+						   if the first is (so jump past
+						   it), and all conditional
+						   jumps pop their argument when
+						   they're not taken (so change
+						   the first jump to pop its
+						   argument when it's taken). */
+						if (JUMPS_ON_TRUE(opcode))
+							codestr[i] = POP_JUMP_IF_TRUE;
+						else
+							codestr[i] = POP_JUMP_IF_FALSE;
+						SETARG(codestr, i, (tgt + 3));
+						goto reoptimize_current;
 					}
-					break;
 				}
-				/* Intentional fallthrough */  
+				/* Intentional fallthrough */
 
 				/* Replace jumps to unconditional jumps */
+			case POP_JUMP_IF_FALSE:
+			case POP_JUMP_IF_TRUE:
 			case FOR_ITER:
 			case JUMP_FORWARD:
 			case JUMP_ABSOLUTE:
@@ -591,14 +615,16 @@
 
 			case JUMP_ABSOLUTE:
 			case CONTINUE_LOOP:
+			case POP_JUMP_IF_FALSE:
+			case POP_JUMP_IF_TRUE:
+			case JUMP_IF_FALSE_OR_POP:
+			case JUMP_IF_TRUE_OR_POP:
 				j = addrmap[GETARG(codestr, i)];
 				SETARG(codestr, i, j);
 				break;
 
 			case FOR_ITER:
 			case JUMP_FORWARD:
-			case JUMP_IF_FALSE:
-			case JUMP_IF_TRUE:
 			case SETUP_LOOP:
 			case SETUP_EXCEPT:
 			case SETUP_FINALLY: