time.strptime's caching of its locale object was being recreated when the
locale changed but not used during the function call it was recreated during.

The test in this checkin is untested (OS X does not have the proper locale
support for me to test), although the fix for the bug this deals with
was tested by the OP (#1290505).  Once the buildbots verify the test at least
doesn't fail it becomes a backport candidate.
diff --git a/Lib/_strptime.py b/Lib/_strptime.py
index 5ea59ed..9e7823a 100644
--- a/Lib/_strptime.py
+++ b/Lib/_strptime.py
@@ -295,17 +295,16 @@
     """Return a time struct based on the input string and the format string."""
     global _TimeRE_cache, _regex_cache
     with _cache_lock:
-        time_re = _TimeRE_cache
-        locale_time = time_re.locale_time
-        if _getlang() != locale_time.lang:
+        if _getlang() != _TimeRE_cache.locale_time.lang:
             _TimeRE_cache = TimeRE()
-            _regex_cache = {}
+            _regex_cache.clear()
         if len(_regex_cache) > _CACHE_MAX_SIZE:
             _regex_cache.clear()
+        locale_time = _TimeRE_cache.locale_time
         format_regex = _regex_cache.get(format)
         if not format_regex:
             try:
-                format_regex = time_re.compile(format)
+                format_regex = _TimeRE_cache.compile(format)
             # KeyError raised when a bad format is found; can be specified as
             # \\, in which case it was a stray % but with a space after it
             except KeyError, err: