A new plugin for Visual Studio 2010 is available on Codeplex. From the project website:

Python Tools for Visual Studio is a free & open source plug-in for Visual Studio 2010 from Microsoft's Technical Computing Group. PTVS enables developers to use all the major productivity features of Visual Studio to build Python code using either CPython or IronPython and adds new features such as using High Performance Computing clusters to scale your code. Together with one of the standard distros, you can turn Visual Studio into a powerful Technical Computing IDE...

Note: PTVS is not a Python distribution; it works with your existing Python/IronPython installation to provide you an integrated editing and debugging experience.

The feature overview looks quite impressive, even hints support for Windows Azure in a later version:

  • Advanced editing, Intellisense, browsing, “Find all”, REPL, …
  • Supports CPython and IronPython
  • Local & Cluster/remote debugging
  • Profiling with multiple views
  • Interactive parallel computing via integrated IPython REPL
  • Support for HPC clusters and MPI, including debugging support
  • NumPy & SciPy for .Net
  • Support for Cloud Computing (soon)
  • Support for Dryad (large scale, data-intensive parallel programming) (soon)
  • Free & Open Source (Apache 2.0)