ZODB py 2.7 bootstrap fails since dec 23 with ImportError: No module named email

Originally reported by: agroszer (Bitbucket: agroszer, GitHub: agroszer)

This is the last good bootstrap:
http://winbot.zope.org/builders/ZODB_dev%20py_270_win32/builds/1604

First failure:
http://winbot.zope.org/builders/ZODB_dev%20py_270_win32/builds/1605

Adding a print sys.path to dist.py shows that something kills sys.path:

C:\buildslave\ZODB_dev_py_270_win32\build>c:\Python27_32\python.exe bootstrap.py
Downloading https://pypi.python.org/packages/source/s/setuptools/setuptools-11.3.1.zip
Extracting in c:\docume~1\agroszer\locals~1\temp\1\tmprzqa4s
Now working in c:\docume~1\agroszer\locals~1\temp\1\tmprzqa4s\setuptools-11.3.1
Building a Setuptools egg in c:\docume~1\agroszer\locals~1\temp\1\tmp88cfgy
========sys.path in dist.py
['c:\\docume~1\\agroszer\\locals~1\\temp\\1\\tmprzqa4s\\setuptools-11.3.1', 'c:\\Python27_32\\lib\\s
ite-packages\\setuptools-0.9.5-py2.7.egg', 'C:\\WINDOWS\\system32\\python27.zip', 'c:\\Python27_32\\
DLLs', 'c:\\Python27_32\\lib', 'c:\\Python27_32\\lib\\plat-win', 'c:\\Python27_32\\lib\\lib-tk', 'c:
\\Python27_32', 'c:\\Python27_32\\lib\\site-packages', 'c:\\Python27_32\\lib\\site-packages\\win32',
 'c:\\Python27_32\\lib\\site-packages\\win32\\lib', 'c:\\Python27_32\\lib\\site-packages\\Pythonwin'
]
========sys.path in dist.py
warning: no files found matching '*.c' under directory 'tests'
warning: no files found matching '*.pyx' under directory 'tests'
warning: no files found matching 'Makefile' under directory 'docs'
warning: no files found matching 'indexsidebar.html' under directory 'docs'
c:\docume~1\agroszer\locals~1\temp\1\tmp88cfgy\setuptools-11.3.1-py2.7.egg
========sys.path in dist.py
['c:\\docume~1\\agroszer\\locals~1\\temp\\1\\tmp88cfgy\\setuptools-11.3.1-py2.7.egg', 'C:\\buildslav
e\\ZODB_dev_py_270_win32\\build', 'C:\\WINDOWS\\system32\\python27.zip']
========sys.path in dist.py
Traceback (most recent call last):
  File "bootstrap.py", line 98, in <module>
    ez['use_setuptools'](**setup_args)
  File "<string>", line 140, in use_setuptools
  File "<string>", line 128, in _do_download
  File "build\bdist.win32\egg\setuptools\__init__.py", line 4, in <module>
  File "c:\Python27_32\lib\distutils\core.py", line 20, in <module>
    from distutils.dist import Distribution
  File "c:\Python27_32\lib\distutils\dist.py", line 13, in <module>
    from email import message_from_file
ImportError: No module named email

• Bitbucket: https://bitbucket.org/pypa/setuptools/issue/330

Reproduce the failure by running bootstrap.py on the Python 2.7 Windows setup described in the issue. Read the bootstrap.py setuptools setup path and the distutils/dist.py import shown in the traceback, then trace where sys.path changes. Done means the bootstrap completes without the reported ImportError.