this could almost be embedded, which would be much cooler i think. you'd have to define objects with names from html tokens and do some ugly hacking with python's operators. you'd also have to add something other than space between strings (a "+" might be ok).
but once you've done that, this could be very neat. no processors - just constructing html in python.
(i don't know if this sounds crazy or not, but you can see the same kind of approach in lepl, which i wrote. the main problem is operator precedence.)