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Love defaultdict. It and dict/set/list compressions are a big part of what makes Python so fast to write in.

Great practice for 2.7 that's probably quashed in 3.0. For large dicts, no need to create a giant set en route when iterating over keys, values, or both. Use "for k in d.iterkeys()", "for v in d.itervals", "for k,v in d.iteritems."

While I'm at it-- if you're ever finding yourself using a huge amount of awfully rigid objects from a single class, use __slots__ to allocate needed variables! Python will otherwise define the object's namespace in a dict (called __dict__) which allocates a whole kilobyte per object. Bad news if you have several hundred thousand... Guessing this is why Guido loves namedtuples so much for basic attributed storage.

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The original plan was to simply let .keys(), .values() and .items() return an iterator, i.e. exactly what iterkeys(), itervalues() and iteritems() return in Python 2.x. However, the Java Collections Framework [1] suggests that a better solution is possible: the methods return objects with set behavior (for .keys() and .items()) or multiset (== bag) behavior (for .values()) that do not contain copies of the keys, values or items, but rather reference the underlying dict and pull their values out of the dict as needed.