Hallo!
To my experience python is quite fast, when the underlying C components do most of the work (like with pyode, numpy, etc.). The C-python interpreter can't be called fast on the other hand, at least compared to C/C++. If you do DSP processing using Python statements (not numpy) it's really a waste of cpu.
Of course one has to use numpy, scipy and all that ... They use quite optimized BLAS/LAPACK algorithms, which should be faster than pure pd - but I never tried the pd-numpy DSP combination.
LG Georg