Effective Decorators

Michele Simionato has written a very nice-looking module that allows decorators to be used quite effectively:

The aim of the decorator module it to simplify the usage of decorators for the average programmer, and to popularize decorators usage giving examples of useful decorators, such as memoize, tracing, redirecting_stdout, locked, etc.

Even if you don't end up using her module, I think the documentation is a great read, and a good example of how to use your own decorators more effectively.