I personally use 4-space indents when I write code (in any language, period).
Oddly... in Python, where whitespace matters, there is no single common practice (which would fit in nicely with Python's TOOWTDI ideology).
Some observations of source code indentations in Python:
Guido van Rossum (creator, lead developer, and BDFL of Python) writes:
"If it uses two-space indents, it's corporate code; if it uses four-space indents, it's open source. (If it uses tabs, I didn't write it! :)"
Copyright © 2006-2008 Corey Goldberg
Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.