Bug when compiling elc code?

[Hadron]

I recently added this bit of lisp to my .emacs in order to automatically
byte compile any el files I saved

,----
| (add-hook 'emacs-lisp-mode-hook
|           '(lambda ()
|              (make-local-hook 'after-save-hook)
|              (add-hook 'after-save-hook
|                        '(lambda ()
|                           (byte-compile-file buffer-file-name))
|                        nil t)))
`----

I have my gnus specifics such as smtp server names and passwords in a
"personal.el" file which is obviously not readable by anyone but my own
login and root.

Unfortunately byte-compile-file produced the following:

-rw------- 1 hadron hadron 4961 2007-08-08 12:19 personal.el
-rw-r--r-- 1 hadron hadron 3795 2007-08-08 12:19 personal.elc

In other words a readable by anyone elc file.

I just checked - I can load up the elc file and see all my passwords.

Bug or feature? Seems like a nasty bug to me.

Which leads on to the next question, is there something I can put into a
file to stop it compiling into an elc using this hook?