System requirement for an embedded Python web server

I'm working on an embedded device that runs Linux on ARM7 with 64MB RAM and 64MB storage (12MB free). The device should be configured via web therefore it needs to run an embedded web server. Currently it's using Lighttpd and LUA, but I'm thinking about replacing LUA (or maybe even Lighttpd) with Python. T开发者_如何学运维he server will occasionally be accessed by one or two users for making changes to internal settings of the C program that is running in Linux. So the server load isn't really a lot. I also need it to be Open Source Software. Web.py seems to be small enough but I still need to compile Python which I haven't done before. So I'm wondering what are the system requirements of Python? LUA seems to do quite well for small embedded systems but I don't like its syntax for C-binding.

However, I couldn't find updated information about system requirements for embedding Python in such settings. This page from Michael Lauer seems to be old.

Any ideas? Suggestions? hints? links?

I'm working on this device using OpenWRT + Python:

http://wiki.openwrt.org/oldwiki/OpenWrtDocs/Hardware/Meraki/Mini

The first python run is veeeeeery slow but it are metacompiling all .pyc files, next it work well.