I find the dict literal d = {'one': '1'}
to be much more readable, your defining data, rather than assigning things values and sending them to the dict()
constructor.
On the other hand i have seen people mistype the dict literal as d = {'one', '1'}
which in modern python 2.7+ will create a set.
Despite this i still prefer to all-ways use the set literal because i think its more readable, personal preference i suppose.