SHOULD Python supplant Java?

[Paddy]

Or Perl? or vice versa?

I think not.

There are a few projects out there that allow a mixing of languages which I personally 
think is the best way to go.
Things like the inline module of Perl on CPAN; the SWIG wrapper for wrapping c/c++ code 
for use in Perl/Python/TK; Jython and thoughts of implementing other languages in Perl6s 
Parrot intermediate code.

These all allow you to use software written in one language from another language. Maybe 
it will evolve into a me being able to choose the language that I want to write my 'System 
level' software in but being able to choose to use modules written in various languages - 
the Verilog parser written in Perl, directed graph visualization from C++, embedded in an 
overall Mozilla gecko user interface creating summary charts using a Java Applet.

I would want to choose the software IP on functionality knowing that they could all work 
together in my application.

I wouldn't want one language to win out over another but would like languages to allow me 
  a wider choice of IP than that written in its language.