Ok, it's done: mathematical equations generated dynamically and displayed as svg graphics. Only using the standard Python library ... and one "tiny" additional download: matplotlib. Here's the first result (saved as a "hard-copy"; you may have to download the page and reopen it locally using Firefox.)
Note: do not bother looking for the files in the "py-fun" repository where I had the first release of docpicture. I will clean up things a bit and do a new release from a different place.
As usual, comments & suggestions are welcome.