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Sorry, I haven't had a chance to look at this again. I just
installed Python-2.5b1 and it's still the same way. Here's
what I did to fix things up after the make altinstall...

  # cd /usr/local/bin
  # for file in pydoc idle smtpd.py python-config; do
  mv $file ${file}2.5
  sed -i 's@/usr/local/bin/python@/usr/local/bin/python2.5@'
${file}2.5
  done

Now, how to fix up the Makefile.pre and setup.py so this
isn't necessary...