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$python
Python 2.6.5 (r265:79063, Apr 16 2010, 13:09:56) 
[GCC 4.4.3] on linux2
>>> class Old: pass
>>> class New(object): pass
>>> o = Old()
>>> n = New()
>>> isinstance(o, object)
True
This is it, basically. Is it a bug or a feature?
More tests :
>>> isinstance(o, Old)
True
>>> isinstance(o, New)
False
>>> isinstance(n, Old)
False
>>> isinstance(o, int)
False
Please note that some unimportant output was deleted from above.
PS. If this is a feature, how do I detect an old-style class then ?