There's a discussion on fogcreek.com about the pros and cons of Python. Really interesting, indeed!
Most people agree that Python is a useful language - the only problem is that it doesn't have enough mindshare of programmers yet. There is no big company promoting Python or an ad campaign to boost it. It doesn't have a huge base of programmers like Perl, but it is getting there. The productivity gains with Python is truly mind-boggling. You get to do more in less lines. I wouldn't claim it to be the panacea to all problems but it is the only candidate for it in my opinion!
I really hope Parrot works out well - that would mean accessing CPAN modules from Python - I would be in geek heaven!