Since I am a Python beginner, I was thinking about studying,and possibly working on some real-world software written in Python. So could you guys suggest some simple open source projects that I could use to study and, if possible, get involved with in development. Thanks.

If you want some ideas, look at this thread:
http://www.daniweb.com/forums/thread32007.html
Otherwise, search sourceforge.net! You can look for programs using YOUR programming language, YOUR os and YOUR type (games, software etc.). If you don't find anything you like, start a new project! PM me if you find a project to join/start a project as I'd like to join one too.