This is a peeve of mine, and one of the reasons that I find myself preferring to write javascript these days rather than python. Never would have thought I'd say that.
I'm not up to snuff on my compiler theory, but I think at the least this would require upgrading to a two-token lookahead parser, and it might also upgrade the python grammar from context-free to context-sensitive. Accordingly, I wouldn't expect this to get implemented -- IIRC ease of parsing was/is one of the big design goals.
In python line continuations are a pre-processing step as far as I'm aware (together with inserting INDENT and DEDENT tokens). In the same vein you could just do a simple loop over the token list and remove the appropriate NEWLINE tokens before going to the actual parsing.
I'm not up to snuff on my compiler theory, but I think at the least this would require upgrading to a two-token lookahead parser, and it might also upgrade the python grammar from context-free to context-sensitive. Accordingly, I wouldn't expect this to get implemented -- IIRC ease of parsing was/is one of the big design goals.