I personally think that reading good code won't work until you have a firm understanding of the language, especially of its idioms. First, I recommend the basic Wikibook "Non-Programmer's Tutorial for Python" to start out. If most of that makes sense, you have a good understanding of the basics already.
After that, I recommend Dive into Python. You'll see a lot of other people recommending this book, because it's comprehensive and free. You'll learn a lot of language specific idioms in Dive into Python, especially in the first few chapters. As you're reading it, try to do basic programs using the techniques Mark Pilgrim shows.
Dive into Python gets into specific modules later in the book. That will probably get a little boring, and when it does, you might want to look at code. I don't feel qualified to rank the code used by these, but Django and Deluge are both bigger projects that will show you the organization of large programs. Though they will probably be overwhelming unless you take the time to really attack them one piece at a time and get a firm understanding.
