I'm just starting to write a script in Python. I was thinking it would be useful to be able to configure the output path of the file it will created/update. It made me thing that I don't know of a standard way of storing settings for Python. I use .NET quite a lot and that has a whole setup for it ( http://msdn.microsoft.com/en-us/library/k4s6c3a0.aspx ).
But I don't know of anything for Python. There's a decent discussion here of some options:
I think for my short little program I am going to create I am going to opt for a Python file. That's what we have done where I work on automation scripts.