I had to follow the instructions on http://www.eddwinston.com/blog/2009/10/installing-pyqt-on-ubuntu/ which shouldn't be required.
cd /usr/share/doc/python-qt4-doc/examples/demos/qtdemo/ sudo gunzip xml/examples.xml.gz sudo pyrcc4 -o qtdemo_rc.py qtdemo.qrc ./qtdemo
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