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So I finished rewriting _return_module() so that if fromlist is not defined then it's all in C (and subsequently naming the function _handle_fromlist()).
That leaves rewriting in C _calc___package__() and _resolve_name(). After that I don't think there is anything left to do in C for __import__() itself (beyond maybe some reorganizing to avoid stupid things).
After that the only thing I can think of writing in C would be BuiltinImporter (and FrozenImporter if someone truly cared).
And once all that is said and done, that only leaves optimizing the Python code to try to appease the performance gods.