Custom Composite Geographic Transformation in ArcGIS 10.1

I am trying to create a custom composite geographic transformation in ArcGIS 10.1. I have found some VBA code which seems to do what I want (http://resources.esri.com/help/9.3/a...804afbd40e.htm). However, this is not a long-term solution due to the depreciation of VBA. Is it possible to create a composite geographic transformation using python?

Thanks,

Richard