python summits.py
It's hard to tell what is actually happening, as pythonwin getting in the way...
Try saving your file to the location of python.exe (typically C:\Python26\ArcGIS10.0\), then use command prompt to navigate there and run it with:python summits.py
This will (probably) still crash, but it ought to at least give you a line number to work from. Otherwise it will crash the whole command window, which leaves us where we are at the moment, but with a few possibilities eliminated...
Let me know how you get on!
            ## select from previously selected records the record(s) with the max elevation value
            whereClause = "RASTERVALU = "+(str(localMax)).strip()
            ## search cursor result for counting
            finalElevRow = arcpy.SearchCursor("selectedFeatures_lyr", whereClause)
            ## check the number of records we just selected and assign a null value if we selected more than 1 record 
            count = 0
            rowcount = 0
            for row in finalElevRow:
                rowcount += 1
            print "I found the following number of local elevation features with that value: "
            print rowcount
            finalElevRow.reset()
            if rowcount == 1:
                for row in finalElevRow:
                    currentElevId = row.ORIG_FID
                    print "This is the ID of the new summit feature: "
                    print currentElevId
            else:
                currentElevId = -9999
                print "This is the ID of the new summit feature: "
                print currentElevId
					
				
			
			
				
			
			
				
			
			
			
			
			
			
		 
            finalElevRow = arcpy.SearchCursor("selectedFeatures_lyr", whereClause)
            rowcount = 0
            for thing in finalElevRow:
                rowcount += 1
            print "I found the following number of local elevation features with that value: "
            print rowcount
            del finalElevRow
            finalElevRow = arcpy.SearchCursor("selectedFeatures_lyr", whereClause)
            if rowcount == 1:
                for glob in finalElevRow:
                    currentElevId = glob.ORIG_FID
                    print "This is the ID of the new summit feature: "
                    print currentElevId
            else:
                currentElevId = -9999
                print "This is the ID of the new summit feature: "
                print currentElevId
            del finalElevRow 
            finalElevRow = arcpy.SearchCursor("selectedFeatures_lyr", whereClause)
            rowcount = 0
            for row in finalElevRow:
                rowcount += 1
            print "I found the following number of local elevation features with that value: "
            print rowcount
            del finalElevRow, row
            finalElevRow = arcpy.SearchCursor("selectedFeatures_lyr", whereClause)
            if rowcount == 1:
                for row in finalElevRow:
                    currentElevId = glob.ORIG_FID
                    print "This is the ID of the new summit feature: "
                    print currentElevId
            else:
                currentElevId = -9999
                print "This is the ID of the new summit feature: "
                print currentElevId
            del finalElevRow, row
					
				
			
			
				
			
			
				
			
			
			
			
			
			
		