It depends on your habits. I for one prefer Lua to Python and find it much more pleasurable to code on. There are some things in Python that I like (like the blocks defined by indentation), but overall the language seeems too complex for no reason when coming from lua.
Lua is a small language, it fits in the head with room left over for Python, which is the tool I favor for general-purpose data munging and small OS scripts.
If your case resembles "scripting over a collection of C ABI static or linked libraries" LuaJIT is head and shoulders above the competition. PUC Lua is itself outstanding.
Python is FAT.
How so? Do you have an example where Python outperforms Lua or uses significantly fewer resources?
Do you count developer time as a resource?