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This looks good! Is it worth mentioning that autoreconf updates pyconfig.h.in as well as configure?
There's also an OS X oddity to be aware of, though I'm not sure whether it's worth mentioning in the FAQ. On OS X 10.6, the system autoconf (/usr/bin/autoconf) *appears* at first sight to be autoconf 2.61 (e.g., using autoconf --version), but has actually been modified slightly by Apple: it produces a whole bunch of
-rm -f conftest*
+rm -f -r conftest*
differences in the generated configure file. I don't know how much this really matters---it can make checkins look a bit confusing at times but seems otherwise harmless. But I've been sticking to GNU autoconf 2.61 and avoiding the Apple version for this reason.
Nitpick: Various occurrences of 2.6.1 in the above should probably be 2.61.