Make sure python is referenced in your Path: < my python path >\python.exe (where < my python path > is the directory where you installed python, such as "C:\Python26").

Make sure IPython is installed (from here:

Make sure PyReadline is installed (from here:

In Console2, right-click go to Edit –> Settings… –> Tabs Add new tab with

 Title: iPython
 Icon: < my python path >\DLLs\py.ico
 Shell: cmd.exe /k "< my python path >\Scripts\ -p sh"
 Startup dir: C:\ (or wherever)

Hit ok and in your Console just go to File –> New Tab –> iPython and you’re off and running!