Installed from source python version 2.3.4 (framework install) I 
am running panther (10.3.6)
Following directions in readme

./configure --enable-framework
make
sudo make frameworkinstall (this last step fails without root privs, 
maybe docs should include the sudo??)

after this python will give the following error:
Interpreter not initialized (version mismatch?)

I tracked this down to python installing into
/Library/Frameworks/Python.Framework

when the apple-python is installed into
/System/Library/Frameworks/Python.Framework

Aparently it was loading the older librarys from the 
/System/Library folder since it comes before the /Library folder in 
the search path.

to the casual observer however everything seams fine and dandy 
at first because the python binaries are put into /usr/local/bin 
which is also later down the search path than the apple supplied 
ones in /usr/bin ! it is not untill you use the new binaries by 
specifying the full path that you find out they don't even work :)

Deleting /System/Library/Frameworks/Python.Framework resolved 
the issue for me. (i deleted the apple supplied binaries from /usr/
bin as well so these files where un-needed)