The parts I don't like:
+ Static linking
+ No extension (shared library) support
+ The module importers look over-engineered / too complicated
+ Custom Python distributions
+ Not sure what Rust gets you here, besides additional complexity
+ No support for Python 2.7 (Python 3 drops support for Windows XP which is still a legit platform for many scenarios)
Many years ago, I solved similar problems (Windows-only at the time) with an approach that:
+ Requires no static linking, absolutely no compilation of Python
+ Supports packaging any pre-installed stock Python 2 distribution, no modifications except to fix bugs in the standard library
+ Uses in-memory loading for _everything_ including Python extensions (shared libraries)
+ Is based on top of a minimal C-bootstrapping layer that can be compiled once and reused
+ Includes a better loader than the one in py2exe :-]
+ Delivers an injectable DLL or executable with absolutely no dependencies except OS built-ins
+ Works on every version of Windows from XP SP0 and beyond
The product is commercial (platform for modelling APT attacks and performing automated exfiltration pentests) but I did a presentation [1] which lays out the entire loader and the benefits of my approach in a way that is easy to independently re-engineer. I can see some benefits of static linking on Unix (even though I'd still avoid it there), but I'm convinced that it's absolutely the wrong thing to do for Windows.
[1] https://downloads.immunityinc.com/infiltrate-archives/python...