I found the Inno Setup script for Python in the Python 
2.2.1 source tree, and decided to hack on it a bit.

Since I didn't want to deploy a custom build of Python 
(wanted to use the original), one of my changes is 
something you won't want: instead of looking in PCBuild 
etc. for the files, it expects the files to be laid out the 
way the WISE installer does it.  However it should be 
easy to change this back so it works against the Python 
VC source / build tree.

Be that as it may, this version has a few changes that 
you may or may not want:
1) incorporates Mark Hammond's win32 libraries (but not 
Pythonwin)
2) deletes PYC and PYO files on uninstall, so that the 
install directory can be properly removed.
3) uses Inno Setup Extensions 
(http://www.wintax.nl/isx) to enable scripted behavior, 
e.g. behave differently based on whether an 
administrator is running the install.
4) uses wildcards to make the script shorter.

I do like the original author's idea of using a Python 
script to generate the ISS script; that would allow the 
files to be listed explicitly rather than relying on 
wildcards as I did here.  

The addition of Mark's stuff is something that interests 
me, since I can't redistribute ActivePython and find it 
cumbersome to include 2 installers plus my own; 
however it is not necessarily something that you are 
going to care about.  The other changes may be more 
interesting to you.

This script is based on the one found in Python 2.2.1 
source tree, but I have compiled and tested it against 
Python 2.2.2.

To test, run the Python WISE installer and Mark's 
win32all installer.  Then copy python22.dll etc. from 
system32 to Python22\sysdir.  Copy the ISS file into the 
Python22 directory.  Running the ISX compiler against 
python.iss.  

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I've enhanced this further, to include the vcredist stuff, and 
to account for the directory tree changes in Python 2.3 (IDLE 
moved, etc).  If you're interested in checking it out, I've 
compiled an experimental installer and published it at 
http://sourceforge.net/projects/avpython/, in the 
pythonsetup package.  The updated source script is there as 
well.

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I'm tempted to reject this on the grounds that Inno setup is
likely not being used in the future to build Python
distributions; it's more likely to be WISE until that gets
replaced with MSI.

That said, it might be useful to merely distribute the files
with Python; if you think it is, please indicate so.
Consider that there might be nothing wrong with maintaining
your own installer, as a separate project.

I assign this to Thomas Heller, who is the current manager
of the Windows packaging; Thomas, feel free to either reject
or accept this - I see little point in keeping it open.

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Thank you for the response.  I don't expect Inno to replace 
the WISE installer as the official Python distribution for 
Windows; I hope I did not give that impression.

To clarify: what I've done is merely an enhanced / updated 
version of the Inno Setup sample that appears in the Python 
source tree on CVS (dist/PCBuild/python.iss).

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Thanks for the clarification; unfortunately, I still don't
understand: All you suggest is that your file replaces the
one in CVS? That sounds fine to me.

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Exactly.  Some people might find the script useful in the real 
world (including me!), but the same would be true of any 
good sample.

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Ok, I have committed Python-2.3.2-Win32-159-Setup.iss as
python.iss 1.7.