Looks like it could be useful, thanks for sharing. Did you consider adding sendfile() support? There appears to be a python module that implements it.
Also, I see the gzip support, but you should also be able to send the gzipped file as-is (with the right content-length, etc) if the Vary headers from the client support it.
Edit: I don't see it figuring out, and sending, the right Content-type header. Or is that functionality that comes with the base class you're using to serve http?
