This one is a little late. Pygame 1.9.1 has been released, hot on the heels of 1.9.0. One of the major fixes in both versions is better compatibility with py2exe, along with a couple other annoying things I’ve had to use workarounds for in the past.
It may seem like I’m harping on packaging specifically, but it was definitely one of the weaker points that as not only a developer but as a businessperson saw as something that prevented it from getting into the big leagues with game developers. I love SDL, and C isn’t as bad as people make it out to be (sometimes), but being able to write games in pure Python with nearly the same or equal execution speed as their C counterparts in less time is a very tempting proposition.
Go try it out and see for yourself.