Edit of  Feb 21, 2010:
The below post is no longer meaningful as Amorilia has released a new PyFFI version 2.1.3, http://www.gamesas.com/bgsforums/index.php?s=&showtopic=1061938&view=findpost&p=15680128. I leave the text though to keep the continuity of the discussion, but I deleted the download links for my two alternative config files. These are no longer needed as Amorilia's now work perfectly. Do not take any actions based on what you read below and disregard any instructions. Do install the newest version as per post #159!!
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To make things hopefully a little easier, I have uploaded working default.ini and oblivion_optimize.ini files for your convenience. They should format correctly in standard Notepad. I have also included a few instructions. Please kindly read them. Default.ini still requires user editing of two settings (path of "in" folder and number of CPU cores). I welcome your feedback, above all if you have a problem with the files.
Download for default.iniDownload for oblivion_optimize.iniThese are tested and intended to be used with PyFFI version as per Amorilia's post #107Please proceed as follows:
1. Install PyFFI 2.1.3 as per above link
2. Make backup copies of the two original config files Amorilia provided. They are in your \PyFFI\utilities\toaster\in directory.
3. Download the two replacement files and copy them into your \PyFFI\utilities\toaster\in folder
4. Please kindly open the files and still read the instructions.
5. Edit default.ini as required.
You should now be ready to go! 

Please give me feedback whether the two .ini files are working for you, whether you like it and so on. Please remember that all credit goes to Amorilia. Thank you!