I'm pleased to announce that Google will be paying me to work on Python over the summer. I will be working on Python's test suite and several smaller projects with the esteemed Georg Brandl as my mentor. I plan to rewrite regrtest.py to be a simple test driver instead of the too-smart-for-its-own-good application it is today. I will be implementing implementation-only decorators (aided by the introduction of class decorators in 2.6/3.0) and fixing that fact that tests are skipped when an import fails. Each test will receive some TLC from me to modernize it and use the new tools I'll add to test_support. Reorganization of the tests into directories by usage and type is also a possibility. And of course, I will be continuing the everyday duties of a core Python developer.
If you want to follow along, I've made a Bazaar branch at http://code.python.org/python/users/benjamin.peterson/new_testing/main/. (That's just a "bzr branch" away.)
I'd also like to thank Guido for his support on this.