Still fails for me on OS X 10.4.11 with latest available xcode (2.5).
This is on PPC with the current stable release of python (2.5.2).

---configure script---
../configure \
        --enable-framework \
        LDFLAGS=-L/usr/local/lib \
        CFLAGS=-I/usr/local/include \
        CPPFLAGS=-I/usr/local/include \
        --with-pydebug \

---error from make---
if test ""; then \
        gcc -o Python.framework/Versions/2.5/Python -arch i386 -arch ppc
-dynamiclib \
                -isysroot "" \
                -all_load libpython2.5.a -Wl,-single_module \
                -install_name
/Library/Frameworks/Python.framework/Versions/2.5/Python \
                -compatibility_version 2.5 \
                -current_version 2.5; \
        else \
        /usr/bin/libtool -o Python.framework/Versions/2.5/Python
-dynamic  libpython2.5.a \
                 -lSystem -lSystemStubs -arch_only ppc -install_name
/Library/Frameworks/Python.framework/Versions/2.5/Python
-compatibility_version 2.5 -current_version 2.5 ;\
fi
ld: Undefined symbols:
___eprintf
/usr/bin/libtool: internal link edit command failed
make: *** [Python.framework/Versions/2.5/Python] Error 1