I made it. Python 2.7.3 and PyQt 4.8.5 are compiled and running on M92. At the moment, it's a 32M zip-file. Maybe there is some stuff inside of it, that you can safely remove without affecting functionality.
Download it from here:
http://www.2shared.com/file/4djZb1aq/py_online.html
E.g. unzip it to your "internal storage" in a directory called "python".
To test functionality I created this short python script "test.py":
Code:
import sys
from PyQt4.QtGui import QApplication,QLabel
app = QApplication(sys.argv)
lbl = QLabel('Hello World')
lbl.show()
app.exec_()
# cd /media/flash/python
# ./bin/python test.py
Attention! This will leave your M92 in a state that looks pretty much like frozen! But of course it's not frozen. You simply have to pause the program by Ctrl+Z and find out the pid with "ps aux" and stop the process with "kill".
I think, PyQt is actually set up properly. But the test script isn't conform with how Qt is handled on M92. I would really appreciate, if somebody came up with a working PyQt example

This is the first time for me to work with Qt and thus PyQt. Is it even possible to write anything in Qt for our M92 without using the onyx/ui/*.h libraries? Hm, that would pose an even harder problem to writing graphical apps in python for our m92
(Btw. PySide turned out to be even less supportive concerning embedded Qt. So there's little chance we will get that any time soon.)