python.exe sends its output to stderr instead of stdout.
Writing the following to the command line highlight the issue:
[ in]>python.exe --version 1> null   #redirects stdout to null
[out]>Python 2.7.5

[ in]>python.exe --version 2> null   #redirects stderr to null
[out]>

Python 3.3 has exactly the same issue.

Python 3.4alpha now, although it gives the correct output with the --version switch...:
[ in]>python --version 1> null
[out]>

[ in]>python --version 2> null
[out]>Python 3.4.0a1

...still invoking a simple pyton.exe  (switchless), prints its default output to stderr:
[ in]>python 1> null
[out]>Python 3.4.0a1 (v3.4.0a1:46535f65e7f3, Aug  3 2013, 22:59:31) [MSC v.1600 32 bit (Intel)] on win32
[out]>Type "help", "copyright", "credits" or "license" for more information.
[out]>>>


[ in]>python 2> null
[out]>>>

Some notes/refs:
Incomplete fix in 3.4a http://bugs.python.org/issue18338