Today I wasted several hours trying to make it work. All over the forums and mailinglist seem that a lot of people is having the same problem, but no real solution, until I found a really 'obvious' issue!
So, if you have errors such as:
make_obcallback: could not import mod_python.apache.\n
ImportError: No module named apache
[Sun Dec 07 20:50:18 2008] [error] make_obcallback: Python path being used
[Sun Dec 07 20:50:18 2008] [error] get_interpreter: no interpreter callback found.
[Sun Dec 07 20:50:18 2008] [error] [client 127.0.0.1] python_handler: Can't get/create interpreter.
check the permissions
on mod_python folder and files! The user under the webserver is running must have access to them.
Yes, I know it's obvious, but it can save you hours of debugging.