Concept
The idea here is to create an uber Python IDE / commandline environment / matlab replacement / realtime object inspector / debugger / gui designer using:
Various stolen bits of Boa Constructor and SPE
Weaving them all together would be a bit of work, but it will be awesomely powerful and easy to use! People could use it for doing Matlab stuff, making GUI's, debugging their programs, regular IDE features, etc. (This does sound a bit like EMACS though, doesn't it? 
Other Projects
PIDA is a great IDE to use as a base.