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ranlib: file: libpython3.3m.a(dynamic_annotations.o) has no symbols
ranlib: file: libpython3.3m.a(pymath.o) has no symbols
gcc -framework CoreFoundation -o python.exe Modules/python.o libpython3.3m.a -ldl -framework CoreFoundation 
gcc -framework CoreFoundation -o Modules/_testembed Modules/_testembed.o libpython3.3m.a -ldl -framework CoreFoundation 
./python.exe -SE -m sysconfig --generate-posix-vars
Could not find platform dependent libraries <exec_prefix>
Consider setting $PYTHONHOME to <prefix>[:<exec_prefix>]
python.exe(41191) malloc: *** mmap(size=7310873954244194304) failed (error code=12)
*** error: can't allocate region
*** set a breakpoint in malloc_error_break to debug
Could not import runpy module
make: *** [Lib/_sysconfigdata.py] Segmentation fault: 11

Dupe of #13241. Apple's llvm-gcc is broken, please use clang instead (CC=clang ./configure).

This is a known issue with using Apple's llvm-gcc compiler. Make sure you've installed either the latest version of Xcode for OS X 10.7 (currently Xcode 4.3.x) and install the optional Command Line Tools component (Xcode -> Preferences -> Downloads -> Components) or download and install the latest version of the new standalone Command Line Tools package (late March) for 10.7 and then configure the build to use clang as compiler. 
 ./configure CC=clang
The defaults ./configure uses will be updated prior to beta releases of 3.3.