Why is math.factorial much slower in Python 2.x than 3.x?

Python 2 uses the naive factorial algorithm:

1121 for (i=1 ; i<=x ; i++) {
1122     iobj = (PyObject *)PyInt_FromLong(i);
1123     if (iobj == NULL)
1124         goto error;
1125     newresult = PyNumber_Multiply(result, iobj);
1126     Py_DECREF(iobj);
1127     if (newresult == NULL)
1128         goto error;
1129     Py_DECREF(result);
1130     result = newresult;
1131 }

Python 3 uses the divide-and-conquer factorial algorithm:

1229 * factorial(n) is written in the form 2**k * m, with m odd. k and m are
1230 * computed separately, and then combined using a left shift.

See the Python Bugtracker issue for the discussion. Thanks DSM for pointing that out.