Unfortunately to be able to use the extension modules provided by others you'll be forced to use the official compiler to compile Python. These are:
Visual Studio 2008 for Python 2.7. See: https://docs.python.org/2.7/using/windows.html#compiling-python-on-windows
Visual Studio 2010 for Python 3.4. See: https://docs.python.org/3.4/using/windows.html#compiling-python-on-windows
Alternatively, you can use MinGw to compile extensions in a way that won't depend on others.
See: https://docs.python.org/2/install/#gnu-c-cygwin-MinGW or https://docs.python.org/3.4/install/#gnu-c-cygwin-mingw
This allows you to have one compiler to build your extensions for both versions of Python, Python 2.x and Python 3.x.