imitive-load is unaffected.  Returns #f if
  ;; auto-compilation failed or was disabled.
  ;;
  ;; NB: Unless we need to compile the file, this function should not
  ;; cause (system base compile) to be loaded up.  For that reason
  ;; compiled-file-name partially duplicates functionality from (system
  ;; base compile).

  (define (fresh-compiled-thunk name scmstat go-file-name)
    ;; Return GO-FILE-NAME after making sure that it contains a freshly
    ;; compiled version of source file NAME with stat SCMSTAT; return #f
    ;; on failure.
    (false-if-exception
     (let ((gostat (and (not %fresh-auto-compile)
                        (stat go-file-name #f))))
       (if (and gostat (more-recent? gostat scmstat))
           (load-thunk-from-file go-file-name)
           (begin
             (when gostat
               (format (current-warning-port)
                       ";;; note: source file ~a\n;;;       newer than compiled ~a\n"
                       name go-file-name))
             (cond
              (%load-should-auto-compile
               (%warn-auto-compilation-enabled)
               (format (current-warning-port) ";;; compiling ~a\n" name)
               (let ((cfn (compile name)))
                 (format (current-warning-port) ";;; compiled ~a\n" cfn)
                 (load-thunk-from-file cfn)))
              (else #f)))))
     #:warning "WARNING: compilation of ~a failed:\n" name))

  (define (sans-extension file)
    (let ((dot (string-rindex file #\.)))
      (if dot
          (substring file 0 dot)
          file)))

  (define (load-absolute abs-file-name)
    ;; Load from ABS-FILE-NAME, using a compiled file or auto-compiling
    ;; if needed.
    (define scmstat
      (false-if-exception
       (stat abs-file-name)
       #:warning "Stat of ~a failed:\n" abs-file-name))

    (define (pre-compiled)
      (or-map
       (lambda (dir)
         (or-map
          (lambda (ext)
            (let ((candidate (string-append (in-vicinity dir file-name) ext)))
              (let ((gostat (stat candidate #f)))
                (and gostat
                     (more-recent? gostat scmstat)
                     (false-if-exception
                      (load-thunk-from-file candidate)
                      #:warning "WARNING: failed to load compiled file ~a:\n"
                      candidate)))))
          %load-compiled-extensions))
       %load-compiled-path))

    (define (fallback)
      (and=> (false-if-exception (canonicalize-path abs-file-name))
             (lambda (canon)
               (and=> (fallback-file-name canon)
                      (lambda (go-file-name)
                        (fresh-compiled-thunk abs-file-name
                                              scmstat
                                              go-file-name))))))

    (let ((compiled (and scmstat (or (pre-compiled) (fallback)))))
      (if compiled
          (begin
            (if %load-hook
                (%load-hook abs-file-name))
            (compiled))
          (start-stack 'load-stack
                       (primitive-load abs-file-name)))))

  (save-module-excursion
   (lambda ()
     (with-fluids ((current-reader reader)
                   (%file-port-name-canonicalization 'relative))
       (cond
        ((absolute-file-name? file-name)
         (load-absolute file-name))
        ((absolute-file-name? dir)
         (load-absolute (in-vicinity dir file-name)))
        (else
         (load-from-path (in-vicinity dir file-name))))))))

(define-syntax load
  (make-variable-transformer
   (lambda (x)
     (let* ((src (syntax-source x))
            (file (and src (assq-ref src 'filename)))
            (dir (and (string? file) (dirname file))))
       (syntax-case x ()
         ((_ arg ...)
          #`(load-in-vicinity #,(or dir #'(getcwd)) arg ...))
         (id
          (identifier? #'id)
          #`(lambda args
              (apply load-in-vicinity #,(or dir #'(getcwd)) args))))))))