I think this is a very good step overall for Max. That being said, I think it has real problems with the base program architecture that doesn’t lends itself to utilizing the OOP aspect of Python very well. In my experience, the way functions are defined in max is so specific that there isn’t as often a super consistent use for them outside of there original purpose. I think this is most evident in the large portions of Max relying on modifers and modifer specific functions. I tend to think this makes it rather procedural by nature. Max, in my opinion, really requires a very ordered set of instructions for many aspects. Of course, this is true for Maya (as an example) to some degree as well, I just find that in Max this often the majority approach. For me, its a lot more challenging to make broad reusable code in Max. Much like modifiers in Max inhibit this, I think more node based system architecture really takes advantage of this.
That being said, I do think python, from a more procedural programming standpoint, will be pretty useful in unifying a common language for tech artist. Python will also unlock lots of external functionality, especially external file access. It will definitely be a good thing overall. I guess, I’m just not sure if Max can truly ever catch up without very very significant changes to its core design.
All this being said, I really enjoy writing scripts in Max. Often times there is a more obvious (although sometimes limiting) approach which can certainly be a good thing.
edit:
I also agree that the lack of a usable IDE also makes it pretty rough.