I've just started to look into this myself. I've purchased the Mobile Python book above. It looks good so far.
This site has a few tutorials as well:
http://croozeus.com/tutorials.htm
I'm using putools to code/sync over bluetooth from linux:
http://people.csail.mit.edu/kapu/symbian/python.html
There are advantages/disadvantages to the python dev on S60. Obviously, using Python is a major plus. There are some extra tricks you need in order to get your app built into a distributed form where you don't need to require the end user to first go download the python runtime for their phone.
The other disadvantage is simply in UI. You have three forms of ui available via the appuifw API. Let's say you want to draw images on the screen as well as have a text entry field in the ui, you really can't. You'll have to split the ui into parts that fit what the python api gives you.
As for IDE/Emulator, I'm just using VIM on Ubuntu with the bluetooth sync tools in putools. I've seen that you can get the C++ or Java environments, and then use the emulators in them, but not seen how it works since it seems to be a windows only option at this point.