Have a look at PyGPU http://code.google.com/p/pygpu/
With it you can code the GPU using python. It translates code from python into GLSL (the opengl shading language).
It's amazing what type of algorithms you can quickly write using the GPU these days.
There are papers describing it's implementation and other information here: http://www.cs.lth.se/home/Calle_Lejdfors/pygpu/ It takes a similar approach to psyco or pypy... in a way. But is different from both of these.