Libgcrypt-py is a Python wrapper around the Gcrypt cryptography library. Most of the other Python crypto modules available wrap OpenSSL, which seems a little bit heavy for a lot of applications.
The current release is basically feature complete, but needs a lot of use and testing before it can be considered stable.
If you are interested in assisting in the testing / stabilization / further development of this project, please join (and post on) the mailing list.
Libgcrypt-py supports many of the features of the Gcrypt library, including the following: