- open gVim.
- then using the File Menu and MenuItem Open to open a file pi.py which has the following tiny script:

How do I execute this code using gVim?
EDIT
If I use either :! python pi.py or :w !python - then I get the following:

You don't need to save the file, you can run the current buffer as stdin to a command such as python by typing:
:w !python -
(The hyphen at the end probably isn't necessary, python will generally use stdin by default)
edit: seeing as you are new to vim, note that this will not save the file, it will just run it. You will probably want to learn how to save your file.
It seems your %path% environment variable doesn't contain your python installation path.
Follow the following steps:
Note: change the directory to your python directory (could be c:\python30, for example)
Save everything and then - Close vim and all CMDs and try again.
:w !pythonthen I get the error I've added to the OP. Do you think I need to configure Vim more so that it finds the python interpretter? - whytheq