How simple and convenient is python for scientific computing?
Highly! You should try attending SciPy conferences (every year there in the USA and one in Europe) to get a real feel for this, but even the rest of the site scipy.orgshould give you some impression.
Does he have a library of algorithms that compares with Matlab?
I don't know matlab, but the number of things available in / for Python varies.
Is Python a script or is it compiling?
Python is a language, and it offers many implementations (all open source).
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