Accessing python program "easy_install"

[Thompson Freeman]

I would like to try a program "libprs500" which can be located through 
https://libprs500.kovidgoyal.net. Instructions are given for Fedora 7, 
which I would assume (silly me) would also apply to an up to date 
Fedora 8, like I have. Per instructions, I have yum installed python-
setuptools, python-imaging, and verified that I have all the requested 
rpms installed.

The next step calls for running easy_install, which is apparently a 
Python install system for something called a python egg.

On my F8 system, there is no easy_install command accessible to the 
normal root user.

There is an easy_install.py file, buried back in the python 
installation, which isn't doing the job.

I'm missing something obvious, and would really appreciate a clue here.

Thanks in advance.