ika is a free, generic game development engine geared (only slightly) towards the creation of console style RPGs, utilizing the Python programming language for scripting. The graphical rendering system supports 32-bit color (that's 16.7 million colors and 256 shades of translucency per pixel) and hardware acceleration.

ika can use the WAV, MOD, IT, S3M, XM, OGG, MP3, and FLAC audio formats; graphically, BMP, PCX, GIF, JPG, PNG, and TGA are supported.

For more information:
http://www.ikagames.com or
http://www.verge-rpg.com/~tsb