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Is it bad practice to combine multiple lines based on readability?

Most people would say it is. Python's indentation is designed to make code readable, and believe me, its better to use a line for each statement/expression. It might not look like much to the person writing the code, but it's a lot better for the person who tries to read it (and understand it). Once you get "Python eyes" from looking at indented code all the time, this sort of multi-statement lines can be a bit misleading, especially while debugging.