Yeah, this is an unimprovement.

1. It gives you less space for the arguments to fit in 80 columns

2. It requires you to reindent all the lines if you change the `data = db.view` part of the code

(the same applies to list and dict items)

3. It makes it harder to identify when this code was actually written.

PEP8 allows for multiple styles of indentation: http://www.python.org/dev/peps/pep-0008/#indentation
I don't think the first one is ideal for evolving group projects, and regardless I don't think changes just between indentation styles are useful.