Getting python to print in UTF8 on Windows XP with the console

I would like to configure my console on Windows XP to support UTF8 and to have python detect that and work with it.

So far, my attempts:

C:\Documents and Settings\Philippe>C:\Python25\python.exe
Python 2.5.2 (r252:60911, Feb 21 2008, 13:11:45) [MSC v.1310 32 bit (Intel)] on win32
Type "help", "copyright", "credits" or "license" for more information.
>>> print u'é'
é
>>> import sys
>>> sys.stdout.encoding
'cp437'
>>> quit()

So, by default I am in cp437 and python detects that just fine.

C:\Documents and Settings\Philippe>chcp 65001
Active code page: 65001

C:\Documents and Settings\Philippe>python
Python 2.5.2 (r252:60911, Feb 21 2008, 13:11:45) [MSC v.1310 32 bit (Intel)] on win32
Type "help", "copyright", "credits" or "license" for more information.
>>> import sys
>>> sys.stdout.encoding
'cp65001'
>>> print u'é'
C:\Documents and Settings\Philippe>

It seems like printing in UTF8 makes python crash now...