Andy Buckley writes:
A couple of weeks ago I posted a question on superuser.com
Maybe it's a bug. (See below.) Have you checked the tracker? Have you posted to python-list? That's a better place than here to get that kind of information.
As you might have noticed,
The people on this list (and on python-dev) probably don't pay much attention to questions on superuser.com, unless they're the kind of people who hang out on python-list.
Sorry for not being much help, but after trying the obvious (read the GNU bash manpage, grep the output of "bind -p" to find out what C-o does, check that python does link to "True GNU" readline on my platform, try python, and when that didn't work, restart python after doing "bind -p >> ~/.inputc", which didn't work either), I don't know.
It *might* be a bug, or you could file for an RFE if it's by design.