diff --git a/.gitignore b/.gitignore
index e173a04..5e8b6ab 100644
--- a/.gitignore
+++ b/.gitignore
@@ -1,5 +1,3 @@
 node_modules/
+/bin
 /lib
-zz*
-*.tgz
-.np-config.json
diff --git a/package.json b/package.json
index d4ae800..6fda13f 100644
--- a/package.json
+++ b/package.json
@@ -35,26 +35,23 @@
   },
   "type": "module",
   "bin": {
-    "ts-run": "./lib/index.js"
+    "ts-run": "./bin/index.js"
   },
   "exports": {
-    ".": {
-      "types": "./register.d.ts",
-      "default": "./lib/index.js"
-    },
-    "./register": {
-      "types": "./register.d.ts",
-      "default": "./lib/index.js"
-    }
+    "types": "./lib/register.d.ts",
+    "default": "./lib/register.js"
   },
   "imports": {
     "#package.json": "./package.json"
   },
   "scripts": {
-    "prebuild": "rimraf lib",
+    "prebuild": "rimraf bin lib",
     "build": "rollup --config",
     "watch": "npm run build -- --watch",
-    "test": "node test/check-node-21.js && node ./lib/index.js test/01.argv.test.ts && node --import=./lib/index.js --test test/**/*.test.{ts,mts,cts}"
+    "pretest": "npm run build",
+    "test": "npm run testOnly",
+    "testOnly": "node test/check-node-21.js && node --import=./lib/register.js --test test/**/*.test.{ts,mts,cts}",
+    "prepublishOnly": "npm run build"
   },
   "devDependencies": {
     "@rollup/plugin-commonjs": "^28.0.0",
@@ -70,9 +67,9 @@
     "typescript": "^5.5.2"
   },
   "files": [
+    "./bin",
     "./lib",
-    "!*.map",
-    "register.d.ts"
+    "!*.map"
   ],
   "publishConfig": {
     "access": "public"
diff --git a/register.d.ts b/register.d.ts
deleted file mode 100644
index e991dba..0000000
--- a/register.d.ts
+++ /dev/null
@@ -1,7 +0,0 @@
-/**
- * This module does not export anything. It can only be imported for its side-effect
- * (which is registering the custom loaders).
- *
- * `import "@septh/ts-run"`
- */
-export {}
diff --git a/rollup.config.js b/rollup.config.js
index ea1b78c..b4a79dd 100644
--- a/rollup.config.js
+++ b/rollup.config.js
@@ -2,36 +2,70 @@ import path from 'node:path'
 import { readFile } from 'fs/promises'
 import { nodeExternals } from 'rollup-plugin-node-externals'
 import { nodeResolve } from '@rollup/plugin-node-resolve'
-import commonsJS from '@rollup/plugin-commonjs'
+import _commonsJS from '@rollup/plugin-commonjs'
 import { sucrase } from 'rollup-plugin-fast-typescript'
-import terser from '@rollup/plugin-terser'
+import _terser from '@rollup/plugin-terser'
 import { defineConfig } from 'rollup'
 
+/**
+ * @template T
+ * @param {{ default: T }} f
+ * @see {@link https://github.com/rollup/plugins/issues/1541#issuecomment-1837153165}
+ */
+const fix = (f) => /** @type {T} */(f)
+const commonJS = fix(_commonsJS)
+const terser = fix(_terser)
+
 export default defineConfig([
+
+    // bin/index.js
+    {
+        input: 'source/bin/index.ts',
+        output: {
+            file: 'bin/index.js',
+            format: 'esm',
+            sourcemap: true,
+            sourcemapExcludeSources: true
+        },
+        plugins: [
+            nodeExternals(),
+            sucrase()
+        ],
+        external: /\/register.js$/
+    },
+
+    // lib/register.js, lib/esm-hooks.js
     {
         input: [
-            'source/index.ts',
-            'source/esm-hooks.ts'
+            'source/lib/register.ts',
+            'source/lib/esm-hooks.ts'
         ],
         output: {
             dir: 'lib',
             format: 'esm',
-            generatedCode: 'es2015',
             sourcemap: true,
             sourcemapExcludeSources: true
         },
         plugins: [
             nodeExternals(),
-            sucrase()
+            sucrase(),
+            {
+                name: 'emit-esm-declaration-file',
+                async generateBundle() {
+                    this.emitFile({
+                        type: 'asset',
+                        fileName: 'register.d.ts',
+                        source: await readFile('./source/lib/register.d.ts')
+                    })
+                }
+            }
         ],
-        // Have to use Rollup's external option as rollup-plugin-node-externals
-        // only applies to Node builtins and npm dependencies.
-        external: [ './transform.cjs' ]
+        external: /\/transform.cjs$/
     },
 
-    // This second configuration bundles Sucrase's parser to lib/transform.cjs
+    // lib/transform.cjs
     {
-        input: 'source/transform.cts',
+        input: 'source/lib/transform.cts',
         output: {
             file: 'lib/transform.cjs',
             format: 'commonjs',
@@ -45,7 +79,7 @@ export default defineConfig([
         plugins: [
             nodeExternals(),
             nodeResolve(),
-            commonsJS(),
+            commonJS(),
             sucrase(),
             terser(),
 
@@ -55,7 +89,7 @@ export default defineConfig([
                 name: 'fix-sucrase',
                 async load(id) {
                     return id.endsWith('computeSourceMap.js')
-                        ? readFile(path.resolve('./source/fix-sucrase/computeSourceMap.js'), 'utf-8')
+                        ? readFile(path.resolve('./source/lib/fix-sucrase/computeSourceMap.js'), 'utf-8')
                         : null
                 }
             }
diff --git a/source/bin/index.ts b/source/bin/index.ts
new file mode 100644
index 0000000..931e910
--- /dev/null
+++ b/source/bin/index.ts
@@ -0,0 +1,27 @@
+#!/usr/bin/env node
+import { createRequire } from 'node:module'
+import { resolve } from 'node:path'
+import { pathToFileURL } from 'node:url'
+
+const { argv } = process
+if (argv.length >= 3 && !argv[2].startsWith('-')) {
+
+    // Get the name of the real <script> entry point from the command line,
+    // replace us in argv with that entry point, then dynamically import it.
+    argv[1] = resolve(argv[2])
+    argv.splice(2, 1)
+    await import('../lib/register.js')
+    await import(pathToFileURL(argv[1]).href)
+}
+else {
+    const { name, version } = createRequire(import.meta.url)('#package.json') as typeof import('#package.json')
+    const shortName = name.split('/').pop()!
+
+    // Respond to `ts-run [-v | --version]` or print usage.
+    if (argv.length === 3 && /^-v|--version$/.test(argv[2])) {
+        console.log(`Node.js v${process.versions.node}, ${shortName} v${version}`)
+    }
+    else {
+        console.log(`Usage: ${shortName} -v | <script.ts>`)
+    }
+}
diff --git a/source/index.ts b/source/index.ts
deleted file mode 100644
index c5b17f3..0000000
--- a/source/index.ts
+++ /dev/null
@@ -1,75 +0,0 @@
-#!/usr/bin/env node
-import assert from 'node:assert/strict'
-import { fileURLToPath } from 'node:url'
-import path from 'node:path'
-import module from 'node:module'
-import { realpath } from 'node:fs/promises'
-import { install_cjs_hooks } from './cjs-hooks.js'
-
-const [ major, minor, patch ] = process.versions.node.split('.').map(Number)
-assert(
-    major >= 21 || (major === 20 && minor >= 6) || (major === 18 && minor >= 19),
-    `Unsupported NodeJS version ${major}.${minor}.${patch}. ts-run requires Node 18.19.0+, Node 20.6.0+ or Node 21+.`
-)
-
-// Enable source map support.
-process.setSourceMapsEnabled(true)
-
-// Determine the default module type.
-let defaultModuleType: NodeJS.ModuleType = 'commonjs'
-const argIndex = process.execArgv.findIndex(arg => /^--(?:experimental-)?default-type/.test(arg))
-if (argIndex >= 0) {
-    const type = process.execArgv[argIndex].split('=')[1] || process.execArgv[argIndex + 1]
-    if (type === 'module' || type === 'commonjs')
-        defaultModuleType = type
-}
-
-// Register the esm hooks -- those are run in a worker thread.
-const self = import.meta.url
-module.register<HookData>('./esm-hooks.js', {
-    parentURL: self,
-    data: {
-        self,
-        defaultModuleType
-    }
-})
-
-// Install the cjs hooks -- those are run synchronously in the main thread.
-install_cjs_hooks(defaultModuleType)
-
-// If we're run via `ts-run <script>` or `node path/to/this/file.js <script>`
-// (as opposed to being --import'ed), then:
-// - (A): get the name of the real <script> entry point from the command line
-//        (the first argument that does not start with a dash)
-// - (B): replace us in argv with that entry point
-// - (C): dynamically import the real entry point.
-if (await realpath(process.argv[1]) === await realpath(fileURLToPath(self))) {
-
-    // (A)
-    let realEntryPointIndex = -1
-    for (let i = 2; i < process.argv.length; i++) {
-        const arg = process.argv[i]
-        if (!arg.startsWith('-')) {
-            realEntryPointIndex = i;
-            break
-        }
-        if (arg === '--')   // Ignore everything after --
-            break
-    }
-
-    if (realEntryPointIndex > 0) {
-        const realEntryPoint = process.argv[realEntryPointIndex]
-
-        // (B)
-        process.argv[1] = await realpath(realEntryPoint).catch(() => path.resolve(realEntryPoint))
-        process.argv.splice(realEntryPointIndex, 1)
-
-        // (C)
-        await import(realEntryPoint)
-    }
-    else if (process.argv.includes('-v') || process.argv.includes('--version')) {
-        // Respond to `ts-run -v`
-        const { name, version } = module.createRequire(self)('#package.json') as typeof import('#package.json')
-        console.log(`Node.js v${major}.${minor}.${patch}, ${name.split('/').pop()} v${version}`)
-    }
-}
diff --git a/source/ambient.d.ts b/source/lib/ambient.d.ts
similarity index 100%
rename from source/ambient.d.ts
rename to source/lib/ambient.d.ts
diff --git a/source/cjs-hooks.ts b/source/lib/cjs-hooks.ts
similarity index 97%
rename from source/cjs-hooks.ts
rename to source/lib/cjs-hooks.ts
index ff9ccae..ac2e0c6 100644
--- a/source/cjs-hooks.ts
+++ b/source/lib/cjs-hooks.ts
@@ -52,7 +52,7 @@ function nearestPackageType(file: string, defaultType: NodeJS.ModuleType): NodeJ
     return defaultType
 }
 
-export function install_cjs_hooks(defaultType: NodeJS.ModuleType) {
+export function installCjsHooks(defaultType: NodeJS.ModuleType) {
     const { _resolveFilename } = Module
     Module._resolveFilename = function _resolveFilenamePatch(request, ...otherArgs) {
         try {
diff --git a/source/esm-hooks.ts b/source/lib/esm-hooks.ts
similarity index 83%
rename from source/esm-hooks.ts
rename to source/lib/esm-hooks.ts
index 18081d9..e015588 100644
--- a/source/esm-hooks.ts
+++ b/source/lib/esm-hooks.ts
@@ -23,25 +23,23 @@ export const resolve: ResolveHook = async (specifier, context, nextResolve) => {
             parentURL: undefined
         }
 
-        if (path.isAbsolute(specifier)) {
-            // On Windows, absolute paths must be valid file:// URLs.
-            specifier = pathToFileURL(specifier).href
+        // Likewise, since *we* are the actual entry point, a bare <script> specifier
+        // would be searched for in node_modules. This is probably not what the user
+        // expects.
+        if (!/^\.\.?\//.test(specifier)) {
+            specifier = path.isAbsolute(specifier)
+                ? specifier = pathToFileURL(specifier).href // On Windows, absolute paths must be valid file:// URLs.
+                : specifier = './' + specifier
         }
-        else if (/^\w/.test(specifier))
-            specifier = './' + specifier
     }
 
-    // Let's try first with the .ts extension...
-    const ts = specifier.replace(jsExtRx, '.$1ts')
-    if (ts !== specifier) {
-        try {
-            return await nextResolve(ts, context)
-        }
-        catch {}
+    // Try first with the .ts extension, otherwise go as-is.
+    try {
+        return await nextResolve(specifier.replace(jsExtRx, '.$1ts'), context)
+    }
+    catch {
+        return nextResolve(specifier, context)
     }
-
-    // Otherwise, go as-is.
-    return nextResolve(specifier, context)
 }
 
 const pkgTypeCache = new Map<string, NodeJS.ModuleType | null>()
@@ -78,7 +76,6 @@ async function nearestPackageType(file: string): Promise<NodeJS.ModuleType> {
 }
 
 export const load: LoadHook = async (url, context, nextLoad) => {
-
     // If this is not a TypeScript file, defer to the next hook in the chain.
     const fileUrl = new URL(url)
     const { protocol, pathname } = fileUrl
diff --git a/source/fix-sucrase/computeSourceMap.js b/source/lib/fix-sucrase/computeSourceMap.js
similarity index 97%
rename from source/fix-sucrase/computeSourceMap.js
rename to source/lib/fix-sucrase/computeSourceMap.js
index 1c17e85..58aaeba 100644
--- a/source/fix-sucrase/computeSourceMap.js
+++ b/source/lib/fix-sucrase/computeSourceMap.js
@@ -2,7 +2,7 @@ import {GenMapping, maybeAddSegment, toEncodedMap} from "@jridgewell/gen-mapping
 
 
 
-import {charCodes} from "./parser/util/charcodes";
+import {charCodes} from "./parser/util/charcodes.js";
 
 
 
diff --git a/source/lib/register.d.ts b/source/lib/register.d.ts
new file mode 100644
index 0000000..4802ed9
--- /dev/null
+++ b/source/lib/register.d.ts
@@ -0,0 +1,4 @@
+/**
+ * Allow `import "@septh/ts-run"`
+ */
+export {}
diff --git a/source/lib/register.ts b/source/lib/register.ts
new file mode 100644
index 0000000..dd867bc
--- /dev/null
+++ b/source/lib/register.ts
@@ -0,0 +1,34 @@
+import assert from 'node:assert/strict'
+import module from 'node:module'
+import { installCjsHooks } from './cjs-hooks.js'
+
+const [ major, minor, patch ] = process.versions.node.split('.').map(Number)
+assert(
+    major >= 21 || (major === 20 && minor >= 6) || (major === 18 && minor >= 19),
+    `Unsupported NodeJS version ${major}.${minor}.${patch}. ts-run requires Node 18.19.0+, Node 20.6.0+ or Node 21+.`
+)
+
+// Enable source map support.
+process.setSourceMapsEnabled(true)
+
+// Determine the default module type.
+let defaultModuleType: NodeJS.ModuleType = 'commonjs'
+const argIndex = process.execArgv.findIndex(arg => /^--(?:experimental-)?default-type/.test(arg))
+if (argIndex >= 0) {
+    const type = process.execArgv[argIndex].split('=')[1] || process.execArgv[argIndex + 1]
+    if (type === 'module' || type === 'commonjs')
+        defaultModuleType = type
+}
+
+// Register the esm hooks -- those are run in a worker thread.
+const self = import.meta.url
+module.register<HookData>('./esm-hooks.js', {
+    parentURL: self,
+    data: {
+        self,
+        defaultModuleType
+    }
+})
+
+// Install the cjs hooks -- those are run synchronously in the main thread.
+installCjsHooks(defaultModuleType)
diff --git a/source/transform.cts b/source/lib/transform.cts
similarity index 100%
rename from source/transform.cts
rename to source/lib/transform.cts
diff --git a/test/01.argv.test.ts b/test/01.argv.test.ts
index 7c3f805..1730d39 100644
--- a/test/01.argv.test.ts
+++ b/test/01.argv.test.ts
@@ -8,7 +8,8 @@ const execFile = promisify(child_process.execFile)
 
 describe("argv handling", () => {
 
-    const tsRun = './lib/index.js'
+    const tsRunAsCLI = './bin/index.js'
+    const tsRunAsLib = './lib/register.js'
     const script = './test/esm/args.ts'
     const args = [ 'arg1', 'arg2', 'arg3' ]
 
@@ -16,7 +17,7 @@ describe("argv handling", () => {
     const scriptPath = path.resolve(script)
 
     test("Leaves `process.argv` as-is when --import'ed", async () => {
-        const { stdout } = await execFile('node', [ `--import=${tsRun}`, script, ...args ])
+        const { stdout } = await execFile('node', [ `--import=${tsRunAsLib}`, script, ...args ])
         assert.deepStrictEqual(stdout.trim().split('\n'), [
             nodePath,
             scriptPath,
@@ -25,7 +26,7 @@ describe("argv handling", () => {
     })
 
     test("Correctly updates `process.argv` when run as CLI", async () => {
-        const { stdout } = await execFile('node', [ tsRun, script, ...args ])
+        const { stdout } = await execFile('node', [ tsRunAsCLI, script, ...args ])
         assert.deepStrictEqual(stdout.trim().split('\n'), [
             nodePath,
             scriptPath,
diff --git a/test/tsconfig.json b/test/tsconfig.json
new file mode 100644
index 0000000..9081791
--- /dev/null
+++ b/test/tsconfig.json
@@ -0,0 +1,9 @@
+{
+  "extends": "../tsconfig.json",
+  "include": [ "." ],
+  "compilerOptions": {
+    "allowImportingTsExtensions": true,
+    "isolatedModules": true,
+    "noEmit": true
+  }
+}
diff --git a/tsconfig.json b/tsconfig.json
index 63aa04b..4a00753 100644
--- a/tsconfig.json
+++ b/tsconfig.json
@@ -1,21 +1,17 @@
 {
   "include": [
     "source",
-    "test",
     "rollup.config.js"
   ],
-  "exclude": [
-    "source/fix-sucrase"
-  ],
+  "exclude": [ "source/lib/fix-sucrase" ],
   "compilerOptions": {
 
     // Node stuff
-    "moduleResolution": "Bundler",
-    "module": "ESNext",
+    "moduleResolution": "Node16",
+    "module": "Node16",
     "allowSyntheticDefaultImports": true,
 
     // Input
-    "allowImportingTsExtensions": true,
     "resolveJsonModule": true,
     "checkJs": true,