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I like the Revert idea better.  It probably should be
above "Close" in the File menu.  Otherwise, if it's
next to "Recent Files", someday someone is going
to select it by mistake and be really ticked.

I think the suggestion violates KISS.  Over time, it's
ideas like this that cause creeping features and a
boated interface.

But again, why not use IDLE instead of emacs to
edit Python code?  One button Save/Run!  What is
the killer feature that's missing from IDLE?  That would
be the real thing to work on.