Those arguments that have default values in the C++ version are also supported in the Python version. So depending on the number of arguments that the user provides for a method, the remaining ones will be set to a predefined value just like in the C++ version.
Those objects that has Python equivalents are substituted by Python objects
(e.g.TCollection_ExtendedString,Standard_CString are handled as Python string etc.)
Probably the next version also will work in the v.Coord() form (but it needs more programming effort to make distinction between arguments that are used in a function or just their values are returned)
Just to answer questions that came in in the meantime: