Per a suggestion, I downgraded myself to the 32 bit python 2.7.1. I tried installing the 32 bit binaries from the website, but get the following:
Python 2.7.1 (r271:86882M, Nov 30 2010, 09:39:13)
[GCC 4.0.1 (Apple Inc. build 5494)] on darwin
Type "help", "copyright", "credits" or "license" for more information.
import pylab
Bus error
-gideon