The first thing to realize is that you'll get more mileage out of understanding Qt than understanding PyQt. Most of the good documentation discusses Qt, not PyQt, so getting conversant with them (and how to convert that code to PyQt code) is a lifesaver. Note, I don't actually recommend programming Qt in C++; Python is a fantastic language for Qt programming, since it takes care of a lot of gruntwork, leaving you to actually code application logic.
The best book I've found for working with PyQt is Rapid GUI Programming with Python and Qt. It's got a nice small Python tutorial in the front, then takes you through the basics of building a Qt application. By the end of the book you should have a good idea of how to build an application, and some basic idea of where to start for more advanced topics.
The other critical reference is the bindings documentation for PyQt. Pay particular attention to the "New-style Signal and Slot Support"; it's a huge improvement over the old style. Once you really understand that document (and it's pretty short) you'll be able to navigate the Qt docs pretty easily.
