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The following scenario GPFs on Windows Vista using cmd.exe...
 D:\>python
 Python 3.1.2 (r312:79149, Mar 21 2010, 00:41:52) [MSC v.1500 32 bit
 (Intel)] on win32
 Type "help", "copyright", "credits" or "license" for more information.
 >>> ^Z
 D:\>chcp 65001
 Active code page: 65001
 D:\>python
 Fatal Python error: Py_Initialize: can't initialize sys standard
 streams
 LookupError: unknown encoding: cp65001
 This application has requested the Runtime to terminate it in an 
 unusual way.
 Please contact the application's support team for more information.
 D:\>
This is a bit surprising since Code Page 65001 IS the official Microsoft UTF-8 Code Page.
Please see...
 http://msdn.microsoft.com/en-us/library/dd317756%28v=vs.85%29.aspx