The new API method Py_SetPath seems bugged. When executing the following code, then the application crashes on Py_Initialize()-call:
#include "Python.h"

main(int argc, char **argv)
{
  Py_SetPath(Py_GetPath());
  printf("Init\n");
  Py_Initialize();
  printf("-- END\n");
}

The raised exception is the following:

Traceback (most recent call last):
  File "/usr/labsolution/python32/lib/python3.2/sysconfig.py", line 332, in _init_posix
    _parse_makefile(makefile, vars)
  File "/usr/labsolution/python32/lib/python3.2/sysconfig.py", line 220, in _parse_makefile
    with open(filename, errors="surrogateescape") as f:
IOError: [Errno 2] No such file or directory: 'lib/python3.2/config-3.2m/Makefile'

During handling of the above exception, another exception occurred:

Traceback (most recent call last):
  File "/usr/labsolution/python32/lib/python3.2/site.py", line 529, in <module>
    main()
  File "/usr/labsolution/python32/lib/python3.2/site.py", line 517, in main
    known_paths = addusersitepackages(known_paths)
  File "/usr/labsolution/python32/lib/python3.2/site.py", line 263, in addusersitepackages
    user_site = getusersitepackages()
  File "/usr/labsolution/python32/lib/python3.2/site.py", line 238, in getusersitepackages
    user_base = getuserbase() # this will also set USER_BASE
  File "/usr/labsolution/python32/lib/python3.2/site.py", line 228, in getuserbase
    USER_BASE = get_config_var('userbase')
  File "/usr/labsolution/python32/lib/python3.2/sysconfig.py", line 590, in get_config_var
    return get_config_vars().get(name)
  File "/usr/labsolution/python32/lib/python3.2/sysconfig.py", line 487, in get_config_vars
    _init_posix(_CONFIG_VARS)
  File "/usr/labsolution/python32/lib/python3.2/sysconfig.py", line 337, in _init_posix
    raise IOError(msg)
IOError: invalid Python installation: unable to open lib/python3.2/config-3.2m/Makefile (No such file or directory)

(perhaps linked to issue #10743 ?!)