Having ported Ruby to IBM's Blue Gene/L my advice is to forget about the GIL. Run one Python process per core. Use something like MPI2 for message passing communication. Ruthlessly eliminate bloat code from production binaries and statically link all the things.
I agree wholeheartedly. Almost every time I hear from someone who is upset about the GIL, I find that they would be much better suited to using multiprocessing instead of multithreading. With 80% of the developers out there, they are basically assured of producing better, more stable code this way.
If you need to close that gap between the performance of multiprocessing, and multithreading, then you probably shouldn't be using Python, or any language of the same shape, in the first place.
There is one other option I'd like to see: multiprocessing style, but with multiple Python interpreter instances in the same process — one per thread. There would still be the hard delineation of data boundaries between instances, but less overhead for pushing data between them.