I guess there is a tool called Py2Exe to convert a Python application into an executable file. Since I am also using PyQt4 for GUI apps., what are the external dependencies for such an executable? What type of files I need to bundle along with my Setup? Is there any Python Setup Builder tool?
If you do have the rights to redistribute MSVCR90.dll, there should be a copy of it in your Visual Studio install, under VC\redist\x86\Microsoft.VC90.CRT. Since Visual Studio 2008, you can't just copy this DLL file - you also need the manifest file that you'll find there.