Hello, coder! Let's become acquainted with "Method Overloading" today. This technique is a potent tool in Python, used to maintain backward compatibility when introducing shiny new features to your software, much like adding a honking feature to your toy car which already moves forward, backward, and turns around.

Today, our journey comprises:

• Unfolding the concept of Method Overloading in Python.
• Understanding the use of method overloading for backward compatibility.
• Applying method overloading to a practical problem.

Let's dive in!

Our first step involves deciphering method overloading. Just as our bodies react differently to various stimuli (cold gives us goosebumps, heat makes us sweat), method overloading in programming allows a function to behave differently based on its input. In Python, we can provide methods that can handle different numbers of arguments by using default parameters. Imagine having a greet function that initially just greets a person by name. Later, we want to add the capability to capitalize the name if needed:

As you can see, the method is overloaded, providing two ways of calling it - providing both parameters or just name, using a default value for the capitalize parameter.

Maintaining backward compatibility is like a pact we make with the users of our software. It assures them that even as we update and improve our software, they can continue to enjoy its basic capabilities without any interruptions.