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Hi,
The documentation says:
"""
If the finally clause raises another exception (...) the saved exception is lost. 
"""
This does not appear to be true. 
In the example below the backtrace shows both exceptions.
>>> import math
>>> try:
... 1/0
... finally:
... math.sqrt(-1)
... 
Traceback (most recent call last):
 File "<stdin>", line 2, in <module>
ZeroDivisionError: division by zero
During handling of the above exception, another exception occurred:
Traceback (most recent call last):
 File "<stdin>", line 4, in <module>
ValueError: math domain error
Cheers,
Siniša

Link to the documentation:
http://docs.python.org/py3k/reference/compound_stmts.html#id2 

New changeset c39fbb24b3f4 by Benjamin Peterson in branch '3.2':
exception support is correct now (closes #13705)
http://hg.python.org/cpython/rev/c39fbb24b3f4