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Bcompiler was written for several reasons:
The second of these goals is achieved using the bcompiler_write_header(), bcompiler_write_class(), bcompiler_write_footer(), bcompiler_read(), and bcompiler_load() functions. The bytecode files can be written as either uncompressed or plain. The bcompiler_load() reads a bzip compressed bytecode file, which tends to be 1/3 of the size of the original file.
To create EXE type files, bcompiler has to be used with a modified sapi file or a version of PHP which has been compiled as a shared library. In this scenario, bcompiler reads the compressed bytecode from the end of the exe file.
bcompiler can improve performance by about 30% when used with uncompressed bytecodes only. But keep in mind that uncompressed bytecode can be up to 5 times larger than the original source code. Using bytecode compression can save your space, but decompression requires much more time than parsing a source. bcompiler also does not do any bytecode optimization, this could be added in the future...
In terms of code protection, it is safe to say that it would be impossible to recreate the exact source code that it was built from, and without the accompanying source code comments. It would effectively be useless to use the bcompiler bytecodes to recreate and modify a class. However it is possible to retrieve data from a bcompiled bytecode file - so don't put your private passwords or anything in it.
The paragraph on code protection is somewhat misleading. While it is correct that the exact source code can not be recreated this does not offer anything in terms of code protection and lures people into a false sense of security. The same was thought of machine code until backward-engineering became so advanced that programs were "rewritten" to change the behaviour of functions or enable/disable them and the same is true for classes.
Overconfidence and "impossibilities" are what people looking for a challenge thrive on. Encryption and obfuscation are ways to make it more difficult but not impossible. As a general rule if it can be executed it can be modified so if you don't want it to be put under the microscope then don't release it in the first place.
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