The power of Python is in it's ability to allow you to focus more on the problem than having to deal with testing low-level issues such as memory allocation. I can't count how many times days of development have been wasted tracking down memory leaks in C or C++. An advantage of all high level languages.
Python is very easy to learn compared to C++,so you can be up to speed a lot quicker in doing basic programming tasks. Therefore, you'll move quicker into advanced tasks as well.
C++ has a lot of power but has many ways to shoot yourself in the foot compared to Python(not saying that can't be done in Python).
The compile/debug cycle can get old sometimes in C++ depending on what you're trying to do. Although technically speaking, everytime you run a Python script it's getting "compiled" per se, it's just a quicker cycle. A good IDE can help alleviate this is in Python by automatically checking your code for syntax errors while you type it out.
If you have some code you want to test inside a larger project, it's a hassle sometimes to isolate it for testing. Whereas a good Python interpreter such as IPython, makes it easy to test a small bit of code and see how the language behaves and paste it into a file.
Python also interfaces very well with existing C/C++ code through many numerous ways. That way if a new whizbang Python module you created is really slow, then you can soup it up in C/C++ then wrap it up with Python through ctypes, Boost::Python, or SWIG.
And most of all, Python comes with a great standard library that has a lot of stuff figured out for you. It's just a matter of putting the pieces altogether! It has a great community behind it, so if it's not in the standard library, there's a good chance someone out there has solved the problem (PyGame, Numpy, SciPy, Pyserial, PyWin, etc.) for you. You can just google it, grab it and plop the code right into your program...away you go!