Given this as input:
#!/usr/bin/python
def x():
  s = """line one
line two
line three"""
  return s

reindent.py changes it to:
#!/usr/bin/python
def x():
    s = """line one
  line two
  line three"""
    return s


Which means that I cannot use reindent.py on any source that includes multiline literals that are not docs.

Btw, it is generally weird that reindented file ends up with 2 spaces before "line two".