Hi,
While it would be a good addition to the portfolio of projects, I have some concerns about the value and sustainability of this development as part of a Google Summer of Code:
1. There is already PyDev that provides a lot of value to Eclipse IDE users willing to do Python. It makes that the need for a new Python tool isn't that high at the moment.
2. So the best place where to host such development would be PyDev project; but snce PyDev is not an Eclipse.org project, it cannot participate in Google Summer of Code with Eclipse Foundation.
3. If we start this development at Eclipse.org, it would be a new project. A project, to be successful requires sustainable maintenance. The project will get some popularity, some users who will report bug, feature requests and have some unmet expectations that the project should consider. If project doesn't have the manpower to deal with its conmmunity, it will fail. And a Google Summer of Code is a short duration effort, not sustainable (ie what happens to the new code in September).
While there is value in this proposal in general, I don't think it fits for a Google Summer of Code idea. GSoC works best enhancing existing projects that already have a community; not starting new projects and new communities.
Cheers
