If you Google documentation with Python, there is a lot of posts and articles on how you can use sphinx with automatic documentation generation. These work well however for a simple script pydoc is more than enough to the task.

pydoc script > script.man

Or for html files (which seem a bit more ugly):

pydoc -w script

There is certainly an element of elegance to the minimalistic man pages.

As this mimics the docstrings used within Python, in some ways it is cleaner than literate programming approaches such as Pycco