Do read PEP 8 Python style guide. http://python.org/dev/peps/pep-0008/

You violated the following:
(Peeves)
More than one space around an assignment (or other) operator to align it with another.

Yes:

x = 1
y = 2
long_variable = 3

No:

x             = 1
y             = 2
long_variable = 3

I used to do that, but it only works with fixed-pitch fonts, which is not really possible for full-unicode fonts. Anyway, that is about half the changes, and they would have to go. Sorry. Some of your other changes make it more compliant. Some I am not sure of others without re-reading.

For the other reasons David gave, I am closing this so you are not mislead into doing more work that will not be accepted. I would note that improving test coverage *is* accepted and good test-coverage is really needed before extensive re-writes. Another document to read is
the developer guide http://docs.python.org/devguide/index.html

Last point. Please use .diff or .patch for diff/patch files as that extension works better for people and, I believe, hg.

Since you are interested in readability, you might consider contributing doc suggestions. You do not have to know .rst formatting. A good suggestion given as plain ascii in a message like this will be copied and formatted by someone who does know .rst. And in simple cases, one can even patch the source .rst withouth knowing much.