Emacs python mode indent levels

[John Fouhy]

Since Python has no explcit ends to blocks, emacs doesn't always know
the right indentation level to use.  And <del> doesn't seem to be very
consistent (it always seems to go back 8 characters, which doesn't
help when the indent level is 4).

Another language where indentation is significant is Haskell.  The
emacs Haskell mode has an excellent solution to the problem: Pushing
<tab> cycles through the various possible indentations.

Does anyone know if anything like this is possible with Python mode? 
Or are there any other popular solutions?

(I am not an elipser)

-- 
John.