I’ve just released PyFTGL which makes it possible to take advantage of FreeType and FTGL to render text in OpenGL program using TrueType, Type 1 or OpenType fonts. PyFTGL wraps the functionality of FTGL into a Python module so it can be used in conjunction with PyOpenGL.
Note that the bindings are still in alpha: they will work if you use them correctly, it’s just the error checking that’s currently missing.