diff --git a/AUTHORS b/AUTHORS
index 1311cc83c..75f66b0b9 100644
--- a/AUTHORS
+++ b/AUTHORS
@@ -26,6 +26,7 @@ Dave Hunt
 David Mohr
 Eduardo Schettino
 Florian Bruhin
+Edison Gustavo Muenz
 Floris Bruynooghe
 Graham Horler
 Grig Gheorghiu
diff --git a/CHANGELOG b/CHANGELOG
index 761fa7914..fd8ce8e4a 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -68,6 +68,10 @@
 2.7.2 (compared to 2.7.1)
 -----------------------------
 
+- fix issue767: pytest.raises value attribute does not contain the exception
+  instance on Python 2.6. Thanks Eric Siegerman for providing the test
+  case and Bruno Oliveira for PR.
+
 - Automatically create directory for junitxml and results log.
   Thanks Aron Curzon.
 
@@ -83,6 +87,13 @@
 - fix issue748: unittest.SkipTest reports to internal pytest unittest plugin.
   Thanks Thomas De Schampheleire for reporting and Bruno Oliveira for the PR.
 
+- fix issue718: failed to create representation of sets containing unsortable
+  elements in python 2. Thanks Edison Gustavo Muenz
+
+- fix issue756, fix issue752 (and similar issues): depend on py-1.4.29
+  which has a refined algorithm for traceback generation.
+
+
 2.7.1 (compared to 2.7.0)
 -----------------------------
 
diff --git a/_pytest/assertion/util.py b/_pytest/assertion/util.py
index 07389e781..fb5f9be0e 100644
--- a/_pytest/assertion/util.py
+++ b/_pytest/assertion/util.py
@@ -225,10 +225,18 @@ def _compare_eq_iterable(left, right, verbose=False):
     # dynamic import to speedup pytest
     import difflib
 
-    left = pprint.pformat(left).splitlines()
-    right = pprint.pformat(right).splitlines()
-    explanation = [u('Full diff:')]
-    explanation.extend(line.strip() for line in difflib.ndiff(left, right))
+    try:
+        left_formatting = pprint.pformat(left).splitlines()
+        right_formatting = pprint.pformat(right).splitlines()
+        explanation = [u('Full diff:')]
+    except Exception:
+        # hack: PrettyPrinter.pformat() in python 2 fails when formatting items that can't be sorted(), ie, calling
+        # sorted() on a list would raise. See issue #718.
+        # As a workaround, the full diff is generated by using the repr() string of each item of each container.
+        left_formatting = sorted(repr(x) for x in left)
+        right_formatting = sorted(repr(x) for x in right)
+        explanation = [u('Full diff (fallback to calling repr on each item):')]
+    explanation.extend(line.strip() for line in difflib.ndiff(left_formatting, right_formatting))
     return explanation
 
 
diff --git a/_pytest/python.py b/_pytest/python.py
index 3acbf2eb2..b28baad2f 100644
--- a/_pytest/python.py
+++ b/_pytest/python.py
@@ -1115,6 +1115,13 @@ class RaisesContext(object):
         __tracebackhide__ = True
         if tp[0] is None:
             pytest.fail("DID NOT RAISE")
+        if sys.version_info < (2, 7):
+            # py26: on __exit__() exc_value often does not contain the
+            # exception value.
+            # http://bugs.python.org/issue7853
+            if not isinstance(tp[1], BaseException):
+                exc_type, value, traceback = tp
+                tp = exc_type, exc_type(value), traceback
         self.excinfo.__init__(tp)
         return issubclass(self.excinfo.type, self.ExpectedException)
 
diff --git a/doc/en/announce/release-2.7.2.txt b/doc/en/announce/release-2.7.2.txt
new file mode 100644
index 000000000..69130ad62
--- /dev/null
+++ b/doc/en/announce/release-2.7.2.txt
@@ -0,0 +1,58 @@
+pytest-2.7.2: bug fixes
+=======================
+
+pytest is a mature Python testing tool with more than a 1100 tests
+against itself, passing on many different interpreters and platforms.
+This release is supposed to be drop-in compatible to 2.7.1.
+
+See below for the changes and see docs at:
+
+    http://pytest.org
+
+As usual, you can upgrade from pypi via::
+
+    pip install -U pytest
+
+Thanks to all who contributed to this release, among them:
+
+    Bruno Oliveira
+    Floris Bruynooghe
+    Punyashloka Biswal
+    Aron Curzon
+    Benjamin Peterson
+    Thomas De Schampheleire
+    Edison Gustavo Muenz
+    Holger Krekel
+
+Happy testing,
+The py.test Development Team
+
+
+2.7.2 (compared to 2.7.1)
+-----------------------------
+
+- fix issue767: pytest.raises value attribute does not contain the exception
+  instance on Python 2.6. Thanks Eric Siegerman for providing the test
+  case and Bruno Oliveira for PR.
+
+- Automatically create directory for junitxml and results log.
+  Thanks Aron Curzon.
+
+- fix issue713: JUnit XML reports for doctest failures.
+  Thanks Punyashloka Biswal.
+
+- fix issue735: assertion failures on debug versions of Python 3.4+
+  Thanks Benjamin Peterson.
+
+- fix issue114: skipif marker reports to internal skipping plugin;
+  Thanks Floris Bruynooghe for reporting and Bruno Oliveira for the PR.
+
+- fix issue748: unittest.SkipTest reports to internal pytest unittest plugin.
+  Thanks Thomas De Schampheleire for reporting and Bruno Oliveira for the PR.
+
+- fix issue718: failed to create representation of sets containing unsortable
+  elements in python 2. Thanks Edison Gustavo Muenz
+
+- fix issue756, fix issue752 (and similar issues): depend on py-1.4.29
+  which has a refined algorithm for traceback generation.
+
diff --git a/doc/en/goodpractises.txt b/doc/en/goodpractises.txt
index 9e2b0cd97..3ec36219d 100644
--- a/doc/en/goodpractises.txt
+++ b/doc/en/goodpractises.txt
@@ -1,7 +1,7 @@
 .. highlightlang:: python
 .. _`goodpractises`:
 
-Good Integration Practises
+Good Integration Practices
 =================================================
 
 Work with virtual environments
diff --git a/setup.py b/setup.py
index 7f15c5762..218c14da8 100644
--- a/setup.py
+++ b/setup.py
@@ -48,7 +48,7 @@ def has_environment_marker_support():
 
 
 def main():
-    install_requires = ['py>=1.4.27', 'pluggy>=0.3.0,<0.4.0']
+    install_requires = ['py>=1.4.29', 'pluggy>=0.3.0,<0.4.0']
     extras_require = {}
     if has_environment_marker_support():
         extras_require[':python_version=="2.6" or python_version=="3.0" or python_version=="3.1"'] = ['argparse']
diff --git a/testing/python/raises.py b/testing/python/raises.py
index 5caa810e2..5ba56bb71 100644
--- a/testing/python/raises.py
+++ b/testing/python/raises.py
@@ -46,6 +46,7 @@ class TestRaises:
                     1/0
                 print (excinfo)
                 assert excinfo.type == ZeroDivisionError
+                assert isinstance(excinfo.value, ZeroDivisionError)
 
             def test_noraise():
                 with pytest.raises(pytest.raises.Exception):
diff --git a/testing/test_assertion.py b/testing/test_assertion.py
index a883ca8cb..492bc2f08 100644
--- a/testing/test_assertion.py
+++ b/testing/test_assertion.py
@@ -569,3 +569,39 @@ def test_AssertionError_message(testdir):
         *assert 0, (x,y)*
         *AssertionError: (1, 2)*
     """)
+
+@pytest.mark.skipif(PY3, reason='This bug does not exist on PY3')
+def test_set_with_unsortable_elements():
+    # issue #718
+    class UnsortableKey(object):
+        def __init__(self, name):
+            self.name = name
+
+        def __lt__(self, other):
+            raise RuntimeError()
+
+        def __repr__(self):
+            return 'repr({0})'.format(self.name)
+
+        def __eq__(self, other):
+            return self.name == other.name
+
+        def __hash__(self):
+            return hash(self.name)
+
+    left_set = set(UnsortableKey(str(i)) for i in range(1, 3))
+    right_set = set(UnsortableKey(str(i)) for i in range(2, 4))
+    expl = callequal(left_set, right_set, verbose=True)
+    # skip first line because it contains the "construction" of the set, which does not have a guaranteed order
+    expl = expl[1:]
+    dedent = textwrap.dedent("""
+        Extra items in the left set:
+        repr(1)
+        Extra items in the right set:
+        repr(3)
+        Full diff (fallback to calling repr on each item):
+        - repr(1)
+        repr(2)
+        + repr(3)
+    """).strip()
+    assert '\n'.join(expl) == dedent
diff --git a/testing/test_conftest.py b/testing/test_conftest.py
index cc2c63ae0..4f967c915 100644
--- a/testing/test_conftest.py
+++ b/testing/test_conftest.py
@@ -160,6 +160,7 @@ def test_conftest_confcutdir(testdir):
     """))
     result = testdir.runpytest("-h", "--confcutdir=%s" % x, x)
     result.stdout.fnmatch_lines(["*--xyz*"])
+    assert 'warning: could not load initial' not in result.stdout.str()
 
 def test_conftest_existing_resultlog(testdir):
     x = testdir.mkdir("tests")
diff --git a/tox.ini b/tox.ini
index ffea634c3..3b307ba7d 100644
--- a/tox.ini
+++ b/tox.ini
@@ -1,10 +1,13 @@
 [tox]
+minversion=2.0
 distshare={homedir}/.tox/distshare
-envlist=flakes,py26,py27,py34,pypy,py27-pexpect,py33-pexpect,py27-nobyte,py33,py27-xdist,py33-xdist,{py27,py33}-trial,py27-subprocess,doctesting,py27-cxfreeze
+envlist=
+     flakes,py26,py27,py33,py34,pypy,
+     {py27,py34}-{pexpect,xdist,trial},
+     py27-nobyte,doctesting,py27-cxfreeze
 
 [testenv]
-changedir=testing
-commands= py.test --lsof -rfsxX --junitxml={envlogdir}/junit-{envname}.xml []
+commands= py.test --lsof -rfsxX {posargs:testing}
 deps=
     nose
     mock
@@ -19,75 +22,59 @@ commands=
   py.test -n3 -rfsxX --runpytest=subprocess {posargs:testing}
 
 [testenv:genscript]
-changedir=.
 commands= py.test --genscript=pytest1
 
 [testenv:flakes]
-changedir=
 deps = pytest-flakes>=0.2
 commands = py.test --flakes -m flakes _pytest testing
 
 [testenv:py27-xdist]
-changedir=.
-basepython=python2.7
 deps=pytest-xdist
     mock
     nose
 commands=
-  py.test -n1 -rfsxX \
-        --junitxml={envlogdir}/junit-{envname}.xml {posargs:testing}
+  py.test -n1 -rfsxX {posargs:testing}
 
-[testenv:py33-xdist]
-changedir=.
-basepython=python3.3
+[testenv:py34-xdist]
 deps={[testenv:py27-xdist]deps}
 commands=
-  py.test -n3 -rfsxX \
-        --junitxml={envlogdir}/junit-{envname}.xml {posargs:testing}
+  py.test -n3 -rfsxX {posargs:testing}
 
 [testenv:py27-pexpect]
 changedir=testing
-basepython=python2.7
+platform=linux|darwin
 deps=pexpect
 commands=
   py.test -rfsxX test_pdb.py test_terminal.py test_unittest.py
 
-[testenv:py33-pexpect]
+[testenv:py34-pexpect]
 changedir=testing
-basepython=python3.3
+platform=linux|darwin
 deps={[testenv:py27-pexpect]deps}
 commands=
   py.test -rfsxX test_pdb.py test_terminal.py test_unittest.py
 
 [testenv:py27-nobyte]
-changedir=.
-basepython=python2.7
 deps=pytest-xdist
 distribute=true
 setenv=
     PYTHONDONTWRITEBYTECODE=1
 commands=
-  py.test -n3 -rfsxX \
-        --junitxml={envlogdir}/junit-{envname}.xml {posargs:testing}
+  py.test -n3 -rfsxX {posargs:testing}
 
 [testenv:py27-trial]
-changedir=.
-basepython=python2.7
 deps=twisted
 commands=
-  py.test -rsxf \
-        --junitxml={envlogdir}/junit-{envname}.xml {posargs:testing/test_unittest.py}
+  py.test -rsxf {posargs:testing/test_unittest.py}
 
-[testenv:py33-trial]
-changedir=.
-basepython=python3.3
+[testenv:py34-trial]
+# py34-trial does not work
+platform=linux|darwin  
 deps={[testenv:py27-trial]deps}
 commands=
-  py.test -rsxf \
-        --junitxml={envlogdir}/junit-{envname}.xml {posargs:testing/test_unittest.py}
+  py.test -rsxf {posargs:testing/test_unittest.py}
 
 [testenv:doctest]
-changedir=.
 commands=py.test --doctest-modules _pytest
 deps=
 
@@ -103,13 +90,11 @@ commands=
     make html
 
 [testenv:doctesting]
-basepython=python3.3
 changedir=doc/en
 deps=PyYAML
-commands= py.test -rfsxX --junitxml={envlogdir}/junit-{envname}.xml []
+commands= py.test -rfsxX {posargs}
 
 [testenv:regen]
-basepython=python3.4
 changedir=doc/en
 deps=sphinx
      PyYAML
@@ -118,34 +103,25 @@ commands=
     #pip install pytest==2.3.4
     make regen
 
-[testenv:py31]
-deps=nose>=1.0
-
-[testenv:py31-xdist]
-deps=pytest-xdist
-commands=
-  py.test -n3 -rfsxX \
-        --junitxml={envlogdir}/junit-{envname}.xml []
-
 [testenv:jython]
 changedir=testing
 commands=
-    {envpython} {envbindir}/py.test-jython \
-        -rfsxX --junitxml={envlogdir}/junit-{envname}2.xml []
+    {envpython} {envbindir}/py.test-jython -rfsxX {posargs}
 
 [testenv:py27-cxfreeze]
 changedir=testing/cx_freeze
-basepython=python2.7
+platform=linux|darwin
 commands=
     {envpython} install_cx_freeze.py
     {envpython} runtests_setup.py build --build-exe build
     {envpython} tox_run.py
+    
 
 [testenv:coveralls]
 passenv = TRAVIS TRAVIS_JOB_ID TRAVIS_BRANCH
-changedir=
 usedevelop=True
 basepython=python3.4
+changedir=testing
 deps =
     {[testenv]deps}
     coveralls
@@ -164,4 +140,4 @@ python_files=test_*.py *_test.py testing/*/*.py
 python_classes=Test Acceptance
 python_functions=test
 pep8ignore = E401 E225 E261 E128 E124 E302
-norecursedirs = .tox ja .hg
+norecursedirs = .tox ja .hg cx_freeze_source