Setting up the dev environment

First, create a directory for the project

mkdir opencoin
cd opencoin

Checkout oc2 and simplejson

svn co svn://svn.opencoin.org/svn/opencoin/trunk/sandbox/jhb/oc2
svn co svn://svn.opencoin.org/svn/opencoin/trunk/sandbox/jhb/simplejson

Link simplejson into the oc2 directory

cd oc2
ln -s ../simplejson

Modify testissuer.py to suit your requirements (especially the line 26, setting the name of your currency and the url)

vim testissuer.py

Run the issuer (first startup might take 30 seconds)

python testissuer.py

You can now use that url/port to add a currency to your wallet. Have fun!