This is much faster, eg defining a max function is about 39 times faster and
even more on more complicated code:

$ python -mtimeit -s 'code = "def max(a, b): return a > b and a or b"' 'exec code'
10000 loops, best of 3: 25.2 usec per loop
$ python -mtimeit -s 'code = compile("def max(a, b): return a > b and a or b", "<string>", "exec")' 'exec code'
1000000 loops, best of 3: 0.632 usec per loop

Another reason is for traceback/pdb readability as __file__ is displayed in
the backtrace, but with 'exec' __file__ equals to '<string>', compile() allows
to specify a readable name easily without having to override __file__.

Also, set __file__ to the Component relative URL instead of the ID for
readability sake.