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There's some good code in here. If you're of a slightly more of a machine learning bent, consider looking into Collective Intelligence (has great source code as well - http://examples.oreilly.com/9780596529321/). It will be a great addition on top of this book.

Of course, when you're ready to graduate, look into Lucene & Mahout for some heavy duty stuff. If you want to make any of these map-reduce'able, Yelp's Mr. Job (also Python) is a handy tool.

On top of that, the BackType blog is always full of gems. Their recent dissection of the #lessambitiousmovies trend on twitter was quite interesting (http://blog.backtype.com/2011/01/analysis-of-the-lessambitio...)

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I just browsed the code and pre-ordered the book. It uses the NLTK toolkit for NLP and has useful plumbing code for authenticating with Twitter, LinkedIn, and Facebook, etc.
Indeed, I added the book to my wishlist. Happy that it's so inexpensive. This is a fantastic way to promote the sale of a book.