Pyrepl is a neat replacement for python readline module.

Features:
 - sane multi-line editing
 - history, with incremental search
 - completion, including displaying of available options
 - a fairly large subset of the readline emacs-mode key bindings
   (adding more is mostly just a matter of typing)
 - Deliberately liberal, Python-style license
 - no global variables, so you can run two independent readers
   without having their histories interfering.

WWW: http://bitbucket.org/pypy/pyrepl/