First things first, I am a Python beginner, with a typical C++/Java background for object oriented stuff.
I was convinced to try Python for this current endeavor I a
Sorry I can't help you with PyMad or pyMedia, but I have other suggestions.
Existing music players written in Python:
All of the above use the Python bindings for the GStreamer multimedia framework. Docs for the bindings are scarce, but check here, here, here, and examples from the source distribution here.