A simple walkthrough to install Python 2.7 on Synology NAS:
1) install ipkg
Read this blogposting for more information about installing ipkg:
2) run 'ipkg update'
3) run 'ipkg install python27'
It will install Python and all dependencies
4) now, the command 'python2.7' will start the Python command line
print 'hello world';
There are many other packages which can be installed on the Synology NAS with Optware, take a look at this website:
complete list: http://www.nslu2-linux.org/wiki/Optware/Packages
Why don't you install nano, sudo etc., it will definitely make your life easier!