Implementing an idea from Guido on the checkins list:
When regrtest.py finds an attribute "test_main" in a test it imports,
regrtest runs the test's test_main after the import.  test_threaded_import
needs this else the cross-thread import lock prevents it from making
progress.  Other tests can use this hack too, but I doubt it will ever be
popular.
diff --git a/Lib/test/regrtest.py b/Lib/test/regrtest.py
index c77abc3..9c83221 100755
--- a/Lib/test/regrtest.py
+++ b/Lib/test/regrtest.py
@@ -244,7 +244,14 @@
             if cfp:
                 sys.stdout = cfp
                 print test              # Output file starts with test name
-            __import__(test, globals(), locals(), [])
+            the_module = __import__(test, globals(), locals(), [])
+            # Most tests run to completion simply as a side-effect of
+            # being imported.  For the benefit of tests that can't run
+            # that way (like test_threaded_import), explicitly invoke
+            # their test_main() function (if it exists).
+            indirect_test = getattr(the_module, "test_main", None)
+            if indirect_test is not None:
+                indirect_test()
             if cfp and not (generate or verbose):
                 cfp.close()
         finally:
diff --git a/Lib/test/test_threaded_import.py b/Lib/test/test_threaded_import.py
index 17fe4c3..fafb873 100644
--- a/Lib/test/test_threaded_import.py
+++ b/Lib/test/test_threaded_import.py
@@ -6,6 +6,7 @@
 # randrange, and then Python hangs.
 
 import thread
+from test_support import verbose
 
 critical_section = thread.allocate_lock()
 done = thread.allocate_lock()
@@ -20,33 +21,26 @@
         done.release()
     critical_section.release()
 
-# Tricky, tricky, tricky.
-# When regrtest imports this module, the thread running regrtest grabs the
-# import lock and won't let go of it until this module returns.  All other
-# threads attempting an import hang for the duration.  So we have to spawn
-# a thread to run the test and return to regrtest.py right away, else the
-# test can't make progress.
-#
-# One miserable consequence:  This test can't wait to make sure all the
-# threads complete!
-#
-# Another:  If this test fails, the output may show up while running
-# some other test.
-#
-# Another:  If you run this test directly, the OS will probably kill
-# all the threads right away, because the program exits immediately
-# after spawning a thread to run the real test.
-#
-# Another:  If this test ever does fail and you attempt to run it by
-# itself via regrtest, the same applies:  regrtest will get out so fast
-# the OS will kill all the threads here.
+# Tricky:  When regrtest imports this module, the thread running regrtest
+# grabs the import lock and won't let go of it until this module returns.
+# All other threads attempting an import hang for the duration.  Since
+# this test spawns threads that do little *but* import, we can't do that
+# successfully until after this module finishes importing and regrtest
+# regains control.  To make this work, a special case was added to
+# regrtest to invoke a module's "test_main" function (if any) after
+# importing it.
 
-def run_the_test():
+def test_main():        # magic name!  see above
     global N, done
     done.acquire()
-    for N in [1, 2, 3, 4, 20, 4, 3, 2]:
+    for N in (20, 50) * 3:
+        if verbose:
+            print "Trying", N, "threads ...",
         for i in range(N):
             thread.start_new_thread(task, ())
         done.acquire()
+        if verbose:
+            print "OK."
 
-thread.start_new_thread(run_the_test, ())
+if __name__ == "__main__":
+    test_main()