I updated to PR1.2 and very happy with it.

However, I'm not quite sure I have installed the "correct" version of PyQt.

I installed the version from the "development" repositories;
PyQt4 Full install
(Complete Python binding set for Qt4(PR1.2)

Installed version: 4.7.3-maemo5

I'm just unsure I have done the right thing. I plan to release my app to end-users - just concerned they may have problems installing and using the app.

Just a little paranoid!