Issue 2775 is tracking the PEP work. If people want to help out they can claim something to do there.
I am personally starting with module deletions (audiodev was the first victim). The steps are laid out in the PEP and they are very straight-forward (which is why I made issue 2775 an easy issue). And if you use TextMate it is even easier thanks to the new Python-Dev bundle! There is a command in it that will generate the boilerplate for the deprecation warning for you, complete with inserting the module's name!
If you would like to help please submit patches to the issue. The betas for 2.6 and 3.0 cannot go out until this PEP is implemented!