PyCharm 3.0 Community Edition
PyCharm, now in its third edition, is an excellent Python IDE from the folks at JetBrains, the creators of IntelliJ. It has a Professional edition, and a fairly competent Community Edition (CE) available for free. The latter edition is an open source project hosted at GitHub. Professional edition has support for various frameworks such as Django.
I find editing, refactoring, executing, and debugging Python code very effective. The integrated Git support is also quite good, although I couldn’t get it to work with my remote repository for some reason. I’ll be using PyCharm CE for Python programming going forward.