There are many neat projects that extend the usefulness of python inside and outside the main language and standard library. Some of them come to mind:
What are some of the projects that excite you, turn this list on and off?
My favorites:
Sage : "Sage is a free open source software system licensed under the GPL. It combines the power of many existing open source software into a common Python-based interface."
Pajamas (PyJS) is a unified structure of the web interface and GUI with all components running on native python (no more annoying JS).
Reportlab - Programmatically create PDF files.
Secondly, all Eli offers, all really great things, especially PyQt and PySide .
I like zope and plone very much.
PLY - Python Lex-Yacc
It (ab) uses Python docs so that you can embed BNF grammar files directly in your code.