Smallest/cheapest possible Python platform?

What's the smallest/cheapest/lowest-power hardware platform I can run
Python on today? I'm looking for something to use as a hardware
controller in a battery-powered device and want to avoid writing in C
for this project.

Performance requirements are minimal. I need to monitor a few switches,
control a couple of LEDs and relays, and keep time over about a 30
minute period to 1/10th second accuracy. Nice-to-have (but not
essential) would be a speech synthesizer with a vocabulary of maybe 50
words.

The Rasberry Pi certainly looks attractive, but isn't quite available
today. Can you run Python on an Arduino? Things like
http://www.embeddedarm.com/products/board-detail.php?product=TS-7250 are
more than I need, and the $129 price probably busts my budget.
.

Relevant Pages

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