I'm not sure that python is quicker:
[root@myserver scripts]# time python -c "print len(open('mybigfile.txt').read().split('\n'))"
644306
real 0m0.310s
user 0m0.176s
sys 0m0.132s
[root@myserver scripts]# time cat mybigfile.txt | wc -l
644305
real 0m0.048s
user 0m0.017s
sys 0m0.074s