You mean http://www.py2exe.org/?

Drawbacks, the tooling is superb, but it will take you months to wrap your brains around the tooling, idioms and best practices. Expect a learning curve to get acclimated with things.

Another plus is the community is self-aware and wants to get work done.

There are other programming languages where if you criticize them - instead of taking it as an engineer - they get their feelings hurt and delve into deeper denial.

In 2015, there are numerous tools to handle cases where GIL, as an example. https://wiki.python.org/moin/Concurrency/