It's going to be integrating Python into DHTML and make Python a peer to JavaScript. Going to require looking at how to best integrate browser information into Python along with security issues to make sure Python cannot be used to hurt the browser or the system it is running on. In other words there is plenty of research to get a Ph.D. out of the whole thing.
This will be released under an open source license so you don't need to worry about it never coming out. But I cannot promise when it will be finished, though. The average time for Ph.D. students here at UBC is 5.5 years and I am still on year one. =) But my goal is to graduate earlier than that. Plus I expect to spend a lot of time upfront getting a proof-of-concept going so you shouldn't have to wait *that* long for something to reach fruition.
I am really excited about this topic! It should be quite the learning experience to do and I really hope it turns out well so that the whole Python community can benefit from the work.