$ pwd
/Users/dhellmann/Documents/PythonMagazine/tmp

$ virtualenv default
New python executable in default/bin/python
Installing setuptools....................done.

$ find default -type d 
default
default/bin
default/lib
default/lib/python2.5
default/lib/python2.5/distutils
default/lib/python2.5/site-packages

$ ls -l default/bin
total 96
-rw-r--r--  1 dhellmann  501   1213 Jan 31 09:30 activate
-rwxr-xr-x  1 dhellmann  501    329 Jan 31 09:30 easy_install
-rwxr-xr-x  1 dhellmann  501    337 Jan 31 09:30 easy_install-2.5
-rwxr-xr-x  1 dhellmann  501  30028 Jan 31 09:30 python
lrwxr-xr-x  1 dhellmann  501      6 Jan 31 09:30 python2.5 -> python

$ default/bin/python
Python 2.5.1 (r251:54869, Apr 18 2007, 22:08:04) 
[GCC 4.0.1 (Apple Computer, Inc. build 5367)] on darwin
Type "help", "copyright", "credits" or "license" for more information.
>>> import sys
>>> sys.prefix
'/Users/dhellmann/PythonMagazine/default/bin/..'
>>> pprint.pprint(sys.path)
['',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/site-packages/setuptools-0.6c7-py2.5.egg',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5/site-packages/setuptools-0.6c5-py2.5.egg',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5/site-packages/virtualenv-0.9.2-py2.5.egg',
 '/Users/dhellmann/PythonMagazine/default/lib/python25.zip',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/plat-darwin',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/plat-mac',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/plat-mac/lib-scriptpackages',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/lib-tk',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/lib-dynload',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5/lib-tk',
 '/Users/dhellmann/PythonMagazine/default/lib/python2.5/site-packages',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5/site-packages',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5/site-packages/Py2App',
 '/Library/Frameworks/Python.framework/Versions/2.5/lib/python2.5/site-packages/PyObjC',
]