Still in early alpha stage and quite limited, but cool nonetheless..
Shed Skin is an experimental Python-to-C++ compiler. It accepts pure Python programs, and generates optimized C++ code. This means that, in combination with a C++ compiler, it allows for translation of Python programs into highly efficient machine language. For a set of 16 non-trivial test programs, measurements show a typical speedup of 2-40 over Psyco, about 12 on average, and 2-220 over CPython, about 45 on average (see Section 5 of my Master's Thesis on the right). Shed Skin also outputs annotated source code.http://mark.dufour.googlepages.com/home
The high performance and elegant approach of Shed Skin (it is only 6000 lines!) come at a cost. First, it currently only accepts programs that are statically typed. This simply means that variables can only ever have a single type. So e.g. a = 1; a = '1' is not allowed. Of course, a single type can be abstract or generic (as in C++), so that e.g. a = A(); a = B(), where A and B have a common base class, is allowed.