Wasn't Neil Innes the musical talent, with regard to (honourary) Pythons, etc? He wrote the songs for Holy Grail ("adapted" by Idle for Spamalot), plus most of the music on those early Python albums, & Eric's subsequent Rutland Weekend series (&, thereby, The Rutles, of course).
I was lucky enough to see Innes & The Rutles live a month or so ago - 2 hours of magnificent, & very clever, pop - & not all of it Beatles-derived either. I certainly recommend you see them if the opportunity arises!
