Richard Jones' Log: Python for hardware design
Jan Decaluwe is officially cool in my books (link via PyPI). I did hardware stuff back at Uni (about a decade ago now) and thoroughly enjoyed it. I only wish I was still in the game so I could try out a tool like this :)
A project that I've always thought would be interesting is to see how useful or practical application-specific hardware would be for the Python runtime. Combine with the PyPy project, and now defining hardware in Python too... whee!