I'm just waiting for zzzeek to publish a blog post on how to implement this on top of sqlalchemy core, like this post [1]. :) Seriously though, sqlalchemy ORM layer already does this. Why not leverage all the existing features and support it has? Also, it's an easier sell for a $100 piece of software: "If you're using sqlalchemy, you can migrate to pony immediately."
[1] http://techspot.zzzeek.org/2011/05/17/magic-a-new-orm/