If you're making an Indie game(i.e. 2d, in a team of less than ten people, low budget), then pygame is your best bet.
There are many libraries in http://pygame.org that make development a snap. There's in-game GUI, networking, pathfinding...
Python 2 is better, for now. You won't need the P3000 stuff just yet.
Lua is also a very popular choice, but that's mostly for big, professional games. They often choose Lua because of its can't fail philosophy. You can pass more or less arguments than a function takes and it won't complain. Pretty much anything can crash, and it will still run on average.
Also, it has very powerful (kind of)threads. There's no race conditions. Ever. And there's Lambdas. And it's extremely moddable. It's basically Lisp with less parentheses.
It should go without saying, Lua programmers are very, very careful people.
Anyway, no matter what you hear, know this:
Games are written in script languages.
Engines are written in C++.
If you "want to learn game development", you probably want to write games.
Also, for both python and Lua there's a pretty simple way to write a script and then ship an .exe.
Search elsewhere for "Embedding %s" % language_name, but it's basically just
#include
...
python_run_file("main.py");