[Python-Dev] help for a noob - version for a sharp ARM

[a Fred]

I'm looking for advice on stripping down Python for an SBC to run Numpy 
and Scipy.  I have the following notes on the system

We have code that requires recent versions of Numpy and Scipy.
The processor is a 32 bit Sharp ARM Sharp LH7A404 32 bit ARM922TDMI with 
     32MB of SDRAM.
512 MB flash disk - but 400 MB is reserved for data
The OS is Linux 
only a tty interface is used.  

Does anyone have a feel as to whether Python for Arm is the correct 
     starting point? 
What modules can I safely add/strip out?  
Will Python take more than 5-6 seconds to load?
Will old Python releases, like 1.5.x, work with newer Numpy and Scipy?

Thanks!
a Fred