I've been greatly enjoying Python. The speed issue is something to consider of course -- it boils down to a tradeoff between making the most efficient use of your computer's time, or of your time writing programs. But for the kinds of programs that I write, including a fair amount of computation, I don't find myself waiting around for programs to finish. And there are modules for improving computational speed such as numpy. Also, if your program is using the resources of the OS, or of services such as the Web, then the computer will be spending most of its time executing those functions rather than Python code.
It's not just the speed of your code as executed. Python threads also do not distribute CPU load onto multiple CPUs (for that you have to fork, make a new process). That can be a serious problem both from a performance standpoint and from an education/jobserching status.
Writing code that multithreads to use more than one CPU and does that well is a big thing now that even our phones are multi-core.