can't import python extension

I'm trying to learn python extensions, and I created the simple noddy example c file and setup.py.

python.exe setup.py build gives me:

running build
running build_ext
building 'noddy' extension
creating build
creating build\temp.win32-2.7
creating build\temp.win32-2.7\Release
C:\Program Files\Microsoft Visual Studio 8\VC\BIN\cl.exe /c /nologo /Ox /MD /W3 /GS- /DNDEBUG -IC:\python27\include -IC:\python27\PC /Tcnoddy.c /Fobuild\temp.win32-2.7\Release\noddy.obj
noddy.c
creating build\lib.win32-2.7
C:\Program Files\Microsoft Visual Studio 8\VC\BIN\link.exe /DLL /nologo /INCREMENTAL:NO /LIBPATH:C:\python27\libs /LIBPATH:C:\python27\PCbuild /EXPORT:initnoddy build\temp.win32-2.7\Release\noddy.obj /OUT:build\lib.win32-2.7\noddy.pyd 开发者_如何学Go/IMPLIB:build\temp.win32-2.7\Release\noddy.lib /MANIFESTFILE:build\temp.win32-2.7\Release\noddy.pyd.manifest
Creating library build\temp.win32-2.7\Release\noddy.lib and object build\temp.win32-2.7\Release\noddy.exp
C:\Program Files\Microsoft Visual Studio 8\VC\BIN\mt.exe -nologo -manifest build\temp.win32-2.7\Release\noddy.pyd.manifest -outputresource:build\lib.win32-2.7\noddy.pyd;2

I then run python.exe setup.py install, which gives me:

running install
running build
running build_ext
running install_lib
copying build\lib.win32-2.7\noddy.pyd -> C:\python27\Lib\site-packages
running install_egg_info
Writing C:\python27\Lib\site-packages\noddy-1.0-py2.7.egg-info

But then, in Idle,

>>> import noddy

Traceback (most recent call last):
  File "<pyshell#0>", line 1, in <module>
    import noddy
ImportError: DLL load failed: The specified module could not be found.

So, what am I doing wrong? Admittedly, I am horribly confused.

Use the Visual Studio 2008 compiler to build the module.

VS8 is Visual Studio 2005 and the modules compiled with that version are incompatible with Python 2.7 (same applies to modules compiled with Visual Studio 2010 btw.).