I'm a guy from a C/C++ background who did linux kernel development, and picked up python along the way and used it to do desktop tools. I used python (without knowing any of it) to write a disassembler for a project I was doing in 2003 on a non-x86 processor. It took me 5 days to learn the language enough to do so and to write the entire tool, at which point I "got it".

First off, Java isn't a toy language. You've characterized it improperly. Java is a bureaucratic language. You have to cross your t's dot your i's, fill out your requests in triplicate at the FactoryFactoryFactory to get the objectOfYourDesire. Why is this so?

This comes back to how C++ works on projects, especially large projects and midsize projects with a couple mediocre programmers thrown in (because, in commercial software development, you rarely get control of your team). C++ does not work well for large team development unless 1> You have very capable people 2> and you can fire everyone who steps outside the "defined okay subset" of C++ you use on the project. The language is too big, certain parts make it too uncertain, etc, for people to just willy nilly use all the language features. So Java, is basically Sun's "redoing" of C++ where they took its wild west nature, and made a BureauDisney version where you can't do a dozen things that happens in C++ all the time when good programmers go off the reservation or bad programmers enter the equation at all.

C++ has uses, but it's the sulfuric acid of programming languages: you have to have good personnel control and fire those who screw around outside the boundaries of the right style. A programming group with one guy programming like C with classes and another guy programming like it's Ocaml without garbage collection, and you're in for a mighty piece of hell.

So that's where Java came from. That's why it is what it is, and I hope I've highlighted a non-business issue with C++ that comes up from it's overabundance of "understanding breaking powers" which don't mess well with total programmer freedom.

Now lets look at what python was, and what it is now:
Python was originally designed as a substitute for the pascal/BASIC line of programming languages (specifically a language called ABC). It was designed to be very very clear. It still is very very clear. It is still quite terse compared with C++/Java/C, but it's wordier than perl and ruby, but very much clearer for even non-python programmers to decipher much of the time.

Over time, it grew into an Application development and webserver development language. Why?

It has a very easy way to interface to C code. This is important, because C does great module level integration, but once you get at the system level, you start to get issues with namespaces, tracing bugs, etc. So python became an alternative for tying C code together.

It writes very quickly. While you may not understand how to write it quickly yet, usually python/ruby/perl will be quite a bit more productive on a feature basis than Java/C#, and tons more productive than an equivalent C/C++ project. This has to do with the fact it takes very few lines of these languages to "do a job".

For you currently, you're possibly less productive in python right now than you are in C++; I've honestly found this doesn't hold true more than 40-80 hours into learning python development while doing a real project for almost anyone who can handle commercial C++ software development. The C++ people do python faster than they do C++ and it has many fewer issues in the end than C++ they would have wrote. We use weave.inline or something else to speed up the inner loops with some native C, if even required for that application, and all is good, it works just as fast for the user or application, and was completed much faster with much less obtuse bugs.

If you spend those 40-80 hours on the language, you too will likely be a faster developer in python than C++ for many features.

Some tips:
You are not doing C, you are not doing C++, you are not doing Java. Don't pretend you have to do the bueracracy that those languages require. If you write a python program with absolutely no functions, it will run just fine. So if all you need to do is process a small amount of text or open a little server, you can do this in a flat file with just a series of lines of code striaght out of main() in a C program. However with the size and completeness of the python standard library, you'll rarely have to write the rest of the functions.

Secondly, it's important to learn idomatic python today. If you write things like "it's supposed to be" in python today, you get speed on par with C/Java (or only 3-5x slower), and it's really freaky to see an interpreted language do that.

Thirdly, it's important to learn and use the standard language rather than writing code. Python module of the week blog is a great resource to do this: http://www.doughellmann.com/projects/PyMOTW/
Much of python's power comes from a stupidly complete standard library that does much of what you need to do so allows you to write 20 line programs.

Lastly, learn easy ways to fall back on C/C++ in python. This way when you use python for an application it turns out it's too slow for, you can still add a bit of C/C++ to get the speed you need. You can embed C++ inline and have it compiled on the fly with weave, so I suggest you learn that.

http://www.scipy.org/Weave for getting it

http://www.scipy.org/Cookbook/Weave for examples of use

http://www.scipy.org/PerformancePython for examples of how fast this runs vs other things.