Hi Panicman,
I am not too familiar with Python. I had a search around the web and came across LabPhyton. It is a node quite similar to a fromula node which allows you to insert your Phyton script.
Check the following links.
http://www.jpaulmorrison.com/cgi-bin/wiki.pl?LabView
http://forums.lavag.org/lofiversion/index.php/t1107.html
If you are still having difficulty let me know.
rgds,
Seamus C