Some Ruby (the programming language) blogger has tried to implement the Edit-Distance algorithm in three different ways in both Python and in Ruby. His conclusion is more steered towards the difference between the algorithms and not so much the language. I guess that's fair because the implementation might be done better in Python than it was in Ruby. But, please notice that this is a Ruby coder and yet his Python implementations are always faster.
A quick glance tells me that the Python programs run about 3 times as fast as the Ruby ones. See the benchmarks