A mention of what a "wheel" is would be nice somewhere. I associate it with the "wheel bit", which appears to be entirely unrelated.
Wheels can include binary executables; until recently, there was no standard way to target linux, so win32 & osx installations for certain python libraries were way faster. The manylinux project makes it possible to distribute binaries for most linux distros by linking against common versions of shared libraries.
With luck this will replace distro-specific packages (i.e. apt-get, yum, apk) for python libraries with large compiled binaries. That's good for users ('pip install' works for more cases) and for package maintainers (less customization to support).
And in keeping with the cheese shop gag, a wheel is "A container for cheese." http://wheel.readthedocs.io/en/latest/