I've finally about finished up 1.2.4. Please give 1.2.4c1 a try. I plan to make the final release next week sometime.
1.2.4 will support Python 2.4, but it's not tested, and won't be supported in 1.3.0. Python 2.5, 2.6, 2.7 and PyPy are all tested and supported.
I still need to make some documentation updates. It turns out I can't easily make it work with Read The Docs since it has a C module, but I'm planning to have them online at packages.python.org.