The recommended install method:
python setup.py install --prefix /usr/ --root /
Installs packages to /usr/lib/pythonx.x/site-packages. Debian (and its derivatives) stopped putting site-packages in their sys.path, and now uses dist-packages instead, so you'll get module not found errors for all of the required modules. the --prefix option overrides Debian's default path for installing modules.
Running setup.py like this works fine:
python setup.py install