2 parts of the question I want to Develop Software for Windows (especially 7)
Please answer the question w.r.t both stand alone binaries and perhaps the .NET arena too.
Does one need to code really deep or are there softwares that enable me to do point and click stuff and create something quick and fast.
How good a choice would python be, in which case what do i need to develop with python?
I suggest you learn C# and WPF. For that you will need Visual Studio.