Rigid Body simulation & Python IPO bake

For a project I’m doing I need to get an accurate Rigid Body simulation, now I think I might have found a solution to do that but I cant get it to work.

Physics Tips <–link

import PhysicsConstraints
PhysicsConstraints.setNumTimeSubSteps(2)

I think this tip section works for older Blenders. Is there any way to update/modify the script for Blender 2.48 with Python 2.5.2?

Another thing I would like to do is to Slow Motion the baked simulation result, this means I need more frames for the simulation then are generated in real-time.

P.S.Before you suggest using the map old/new feature or scaling the animation in the NLA, it doesnt work. The rotations go crazy if they dont have a key for every single frame, any interpolations between the rotations and it goes wrong.