Looks like 2.7rc2 is in the repository. If you don't want to wait for the maintainer, you can:

  sudo port edit python27

This will use your $EDITOR (mine is vi, yours might be textmate). Change the version from 2.7rc2 to 2.7:

  version 2.7

and set the checksum value to:

  sha1 6bbcd1ab16d07765a7a405671e1e43a2e74b8e6a

Then simply:

  sudo port install python27

Boom. You can make it the default 'python' (if /opt/local/bin comes first in your path) via:

  sudo port install python_select
  sudo python_select python27
  python --version
    Python 2.7

The next 'port sync' will override your local portfile changes. If you want to keep them, you can also copy the port somewhere else, or even set up your own local tree of port files. ('port dir python27' to get the path to the port for copying).

Also, if you fail to update the checksum, port(1) will tell you what it should be (which is how I got the line to use above).