The PYTHONDOCS environment variable needs to be set in order for help() to work inside Python. The contents of the variable should be %{_defaultdocdir}/%{name}-%{version}/html.
Helpful if we can get any traction on this.
This has been fixed in 2.4.2 I believe. At any rate, FC4, FC5 should have 2.4.3 which is definitely working for me.