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> I think calling PyErr_WriteUnraisable would be more appropriate than 
> PyErr_Clear.
You mean just adding
 PyErr_CheckSignals();
 if (PyErr_Occurred())
 PyErr_WriteUnraisable(NULL);
before the call to PyFile_WriteString()? That seems to work:
 >>> from testsigint import *; wait()
 ^CException KeyboardInterrupt ignored
 Traceback (most recent call last):
 File "<stdin>", line 1, in <module>
 RuntimeError
> I also wonder whether it's ok to ignore the exception. Pressing e.g. 
> Ctrl-C generally shouldn't fail to stop the program, even if another 
> exception is being processed at that moment.
The ignoring and clearing of exceptions also happens higher (lower?) in the call stack in print_exception() and print_exception_recursive(). For example, print_exception() ends with
 /* If an error happened here, don't show it.
 XXX This is wrong, but too many callers rely on this behavior. */
 if (err != 0)
 PyErr_Clear();
 }