This is the only good reason I would recommend bpython over IPython objectively. Other than that, it's just a matter of taste - bpython is just a standard shell with some nice features to aid the user whereas IPython has a whole host of features and extensions and integrations that make it a great tool for lots of people. I don't think you have to use one or the other and I don't see them as competing pieces of software. IPython is a great tool and seems to suit a lot of people, particularly those in the mathematic and scientific communities.
Let me put it this way: if IPython implemented all of the features that bpython has and bpython became entirely redundant then I would only be happy that people have a great tool to help them with their development and that bpython may have played a part in helping it get to that state.
The big change from previous versions of ipy.vim is that it no longer requires the old brittle ipy_vimserver.py instantiation, and since it uses just vim and python, it is platform independent (i.e. works even on windows, unlike the previous nix only solution). The requirements are IPython 0.11+ with zeromq capabilities, vim compiled with +python.
And had a moment of panic. As the guy who wrote ipy_vimserver.py (the playing mentioned in my previous post) I am both glad that this awesome project ivanov wrote evolved from it, and horrified that people were using it :). (particularly after searching for ipy_vimserver on google, and finding a lot of issues people were having...)
Cheers.
It might be less so on the "engineering" side due to being perceived as more heavyweight?
(Not that I dislike bpython, just never had the desire to use it)