I have been benefitted a lot by PyPy.
I made a search engine[1] in python for one of my university course project. It had to process 30+ GB of html files.
I got a 2x improvement by using PyPy and completed indexing the dataset in 11 hours as compared to projected 22 hours. The only explanation I can think of is that my work was compute intensive and involved a lot of loops and accessing data in dictionaries.