On the anaconda team, we have been planning a major storage code overhaul in the installer. We are targeting Fedora 11 for the backend code rewrite. My particular contribution right now is rewriting pyparted, the Python bindings for libparted.
For those who don't know, pyparted was written so that anaconda (written in Python) could use libparted (written in C) to lay down partitions on disk. What you see in Fedora right now as pyparted is a simple module that provides only what anaconda wanted. It's not the entire libparted API.
For the storage code overhaul, I (along with Chris Lumens) have been rewriting pyparted to expose the entire libparted API to anaconda and really any program that wants to use it. The project is on Fedora Hosted, but I have not made a project page yet. Get source from here.
Currently working on moving anaconda over to the new pyparted code, which is taking some time. Once that's done, I can drop the new pyparted in to rawhide.
If you are interested in pyparted for one of your projects, please check out the code from the git repo and start playing around with it today. Questions and bug reports to me, please.