Download latest python installer in to windows server 2008 and install it.
Download http://peak.telecommunity.com/dist/ez_setup.py from setuptools (http://pypi.python.org/pypi/setuptools) and run with python
python ez_setup.py
And after all download ipython source for windows environment (http://archive.ipython.org/release/0.11/ipython-0.11.zip) Extract it and install by the command below:
python setup.py install
Thats all….