After downgrade to python2.4-minimal 2.4.4-1ubuntu1 found on lanuchpad (https://launchpad.net/ubuntu/feisty/i386/python2.4-minimal/2.4.4-1ubuntu1) it does what I it should. After going back to 2.4.4-1ubuntu2 python imports /usr/lib/python2.4/lib-dynload/select.so instead of ./select.py again.
-- import searches standard modules before current dir https://launchpad.net/bugs/77830 -- ubuntu-bugs mailing list ubuntu-bugs@lists.ubuntu.com https://lists.ubuntu.com/mailman/listinfo/ubuntu-bugs