I see a list of owners in the code (although it's difficult to infer
real names or email addresses from that list). I think we should not
include the code without their explicit approval.

The question will then always be: what is the official master copy of
the code? The one in Python, or the one on Google code? Whose
responsibility would it be to keep those synchronized, and incorporate
changes from one copy into the other?

I would prefer if the copy in Python (say, 2.7) becomes the master copy,
and the copy on Google code eventually disappears (when interest in
older Python versions has died).

I would object to a mere fork of the code (i.e. where one of the regular
Python committers incorporates, from time to time, the changes that
Google made)