In fairness, while I find it nice in most places, Python's indentation really works against it in two applications I can think of:

Dirty command line scripting, and embedding in templates. You can create custom templating languages but they just end up growing in complexity as you decide you need more features. (Kind of analoguous Greenspun's 10th rule of programming: Any sufficiently complicated C or Fortran program contains an ad-hoc, informally-specified, bug-ridden, slow implementation of half of CommonLisp. :P)

Aside from that it really does come down to personal preference. Some people like it one way, others just don't.