As a language, I like Python better than PHP. But, for web development, I am afraid that python may not be a practical choice.
Python requires special, non-standard, expensive, hosting. This is especially true if you want to use one of the popular python frameworks, and frameworks are probably the most practical way to develop web sites with python. In the likely case that a client already has a host, and that host does not work with python; it may be difficult to tell a client that he/she will have to change hosting, and pay much more.
If you need to hire developers, you will find that python developers are much more difficult to find.
If you want a job as a web developer, you will find that python is not a commonly demanded skill. Demand for python web developers certainly lags far behind demand for PHP, .Net, Java, or RoR, developers.
Or is python such a great language, that it's worth all the extra trouble? Or, am I wrong about everything?