Current install methodolgy eggs?

[Paul Watson]

What is the currently favored installation process for Python applications?

The last time I looked, it was eggs.  Is that still true?  Is there any 
integration of eggs and handling into the base Python distribution?  Is 
PEP 376 intended for applications written in Python, or just the Python 
distribution?

Any good links to source of information.  I would like to instill the 
habit of using a decent install process for even the smallest of utilities.