can a cut-down Python still be Python?

[Paddy]

If you mean missing out some of the libraries then that would be
different to missing out core functionality sucjh as generators or list
expressions,...

In general, if the end task is not to present the world with a new
programming language then it's usually best to choose from the
available, supported languages rather than creating your own.

Maybe you should take a look at, for example, Lua:
  http://www.lua.org/

But if the trail leads back to Python, then go for it :-)

- Pad.