I am surprised this has such a low rating. I mean, yes, when I went to #python on irc.freenode.net and asked guys, I need a basic beginners python book, the immediate response was haven't you seen LPTHW.
Zed, you sir, are an awesome teacher. I mean, yes, awesome teacher. I love the line, "Remember, paying attention to details is necessary. make the code exactly as mine and run". Well, I did run it, sir.
One guy in my office, who is also in python-devel list and a seriously good python guy, also recommended this book first in his lecture when he gave a brief introduction of the language. Yeah, I have this book open in my tab most of the time. BTW, this is not for professional python guys who are executing .py all the time, this is meant to get a grip on the language and then further explore it. Even, Zed told that a number of times.
If you are interested in learning python, give this a try.