Some python-mode operations slow down noticeably when the region being edited
contains an unclosed bracket or string: these constructs lead to python-mode
scanning the entire remainder of the buffer, and this scan appears to take time
O(nr_lines^2). When which-func mode is enabled, this slowness renders Emacs
unusable, since we'll call python-info-current-defun frequently in order to
update the modeline, and this function will take several seconds to complete.

The following patch appears to remedy the problem without breaking anythig.

=== modified file 'lisp/progmodes/python.el'
--- lisp/progmodes/python.el	2012-11-27 03:10:32 +0000
+++ lisp/progmodes/python.el	2012-12-14 11:28:58 +0000
@@ -1184,13 +1184,21 @@
 (defun python-nav-end-of-statement ()
   "Move to end of current statement."
   (interactive "^")
-  (while (and (goto-char (line-end-position))
-              (not (eobp))
-              (when (or
-                     (python-info-line-ends-backslash-p)
-                     (python-syntax-context 'string)
-                     (python-syntax-context 'paren))
-                (forward-line 1))))
+
+  (let (string-start bs-pos)
+    (while (and (goto-char (line-end-position))
+                (not (eobp))
+                (cond ((setq string-start (python-syntax-context 'string))
+                       (goto-char string-start)
+                       (forward-sexp))
+                      ((python-syntax-context 'paren)
+                       ;; The statement won't end before we've escaped
+                       ;; at least one level of parenthesis.
+                       (condition-case err
+                           (goto-char (scan-lists (point) 1 -1))
+                         (scan-error (goto-char (nth 3 err)))))
+                      ((setq bs-pos (python-info-line-ends-backslash-p))
+                       (goto-char bs-pos))))))
   (point-marker))

 (defun python-nav-backward-statement (&optional arg)