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An update on the progress:
All development currently happens in my private mpdecimal repository. The
next version of mpdecimal (2.0) is finished, stable and will be released
once all tests have completed successfully. Running the whole test suite
can take several weeks, since Valgrind is involved and all Python versions
from 2.5 to 3.2 are tested.
In py3k-cdecimal, r86497 is an exact copy of mpdecimal-2.0. All buildbots
pass the short tests.
Major improvements:
 o Full compatibility with decimal.py 3.2, including the new hash
 functions and float operations.
 o With the new FloatOperation signal, accidental float operations
 can be detected.
 o The underlying library - libmpdec - now has 100% code coverage
 together with Makefile targets for creating coverage reports.
 In particular, every possible allocation failure during an
 operation can be tested in brute force style.
 o The module has 85% code coverage. All lines except failures
 of Python C-API functions are tested.
 o Several minor bug fixes, most of them deal with allocation
 failures under extreme bignum conditions.
Potential reviewers:
I'll be happy to answer questions here or privately. IMO the best way to
get acquainted with the module is to do the regular build and tests first,
then explore Lib/test/mpdecimal, reading LIBTEST.txt and PYTEST.txt.