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For sure Oracle does not need me to defend them but let me tell you that you have a very good support for python in cx_Oracle: it includes everything you need to make it work (at least the same things you would find in php oci8 library) so there are no excuses for not using python with oracle in any level.
If I can criticize something, maybe it's that I'm not sure if Oracle communicates with the main (and as far as I know only) developer of the cx_Oracle library. I'm sure Oracle won't go broke if they offer some expertise advice to make cx_Oracle work better (or putting someone to verify that the main frameworks -Zope2 and 3, Django, pylons- have an adequate and mature Oracle library to work with).
If you want to use python with oracle go ahead: it works. If you have any doubt post it here, I'm sure you would find help very quick.