Python code written in 1998, how to improve/change it?

[Petr Jakes]

Hello,
I am trying to study/understand OOP principles using Python. I have
found following code http://tinyurl.com/a4zkn about FSM (finite state
machine) on this list, which looks quite useful for my purposes. As
this code was posted long time ago (November 1998) I would like to ask
if the principles used in this code are still valid in the "modern"
Python and if/how it can be improved (revrited) using futures of
current version of Python.
Thanks for your comments for a "newbie" and for your patience.
Petr Jakes