Hmm.
While I understand that this problem can be fixed by setting a correct hostname, it is not very user friendly to just fail like this. I reckon most mac and windows users will not have their machine name mapped to an IP address in their /etc/hosts file, and so a lot of people will first waste some time finding the cause of this error and fixing it.
Would you be interested in a patch which catches this error, spits out a warning that your hostname doesn't resolve and then quits?
socket.gaierror: [Errno 8] nodename nor servname provided, or not known