Essential Libraries
The main challenge for an experienced programmer coming from another language to Python is figuring out how one language maps to another. Here are a few essential libraries and how they relate to Java equivalents.
os, os.path
Has functionality like in java.io.File, java.lang.Process, and others. But cleaner and more sophisticated, with a Unix flavor. Use os.path instead of os for higher-level functionality.
sys
Manipulate the sys.path (which is like the classpath), register exit handlers (like in java Runtime object), and access the standard I/O streams, as in java.lang.System.
unittest
Very similar (and based on) jUnit, with test fixtures and runnable harnesses.
logging
Functionality almost identical to log4j with loglevels and loggers. ( logging is also in the standard java.util.Logging library)
datetime
Allows parsing and formatting dates and times, like in java.text.DateFormat, java.util.Date and related.
ConfigParser
Allows persistant configuration as in a java Properties file (but also allows nesting). Use this when you don't want the complexity of XML or a database backend.
socket, urllib
Similar functionality to what is in java.net, for working with either sockets, or retrieving content via URLs/URIs.
Also, keep in mind that a lot of basic functionality, such as reading files, and working with collections, is in the core python language, whereas in Java it lives in packages.