The port had been done in a weekend just to see if we could use Python in production. The C++ code had taken a few months to write. The port was pretty direct, function for function. It was even line for line where language and library differences didn't offer an easier way.
A couple of us worked together for a day to find the reason for the speedup. Just looking at the code didn't give us any clues, so we started profiling both versions. We found out that the port had accidentally fixed a previously unknown bug in some code that built and compared cache keys. After identifying the small misbehaving function, we had to study the C++ code pretty hard to even understand what the problem was. I don't remember the exact nature of the bug, but I do remember thinking that particular type of bug would be hard to express in Python, and that's exactly why it was accidentally fixed.
We immediately started moving the rest of our back end to Python. Most things were slower, but not by much because most of our back end was i/o bound. We soon found out that we could make algorithmic improvements so much more quickly, so a lot of the slowest things got a lot faster than they had ever been. And, most importantly, we (the software developers) got quite a bit faster.