I have been checking out CheryPy for a roughly "Tomcat equivalent" framework for building dynamic web apps with Python. Most of my consulting business is based on building web applications written in Java that use Tomcat for a servlet/JSP container, containing background work threads, etc.
In the last year I have been using Python more and more (especially since I spent a day at Google last March and almost every engineer I spoke with raved about Python). I still think that Java+Tomcat or Java+full J2EE stack is best for most heavy weight web apps. However, I am finding Python to be a compelling language for small and medium size projects - higher programmer productivity than Java (perhaps even a more productive language than Common Lisp). I am hoping that CheryPy will provide a platform for building small and medium scale web apps very quickly.