I try to create documentation for a project written with Python 3.x. Sphinx is the tool I want to use and, according to the official site, its last version 1.1.2 is
I had this exact same problem last night, when I came across your question. — I am also on Arch.
I guess the problem could be a number of different things, but the solution for me was that I had the Python 2 version of the python-distribute package installed and therefore had easy_install-2.7 not easy_install-3.2.
I believe in my case the wrong version of python-distribute was installed by my attempt to previously install Sphinx from pacman (which installs version 1.0.8), so uninstalling Sphinx and all subsequently unneeded dependencies pacman -Rsu python-sphinx and then installing python-distribute got me the right version of easy_install, then reinstalling Sphinx with easy_install and the Sphinx installation works as expected.
If you have other things that depend on python-distribute then the process may be a little different. But start by just trying to remove python-distribute and work from there.
Scrap that last part. It's too early in the morning and I wasn't thinking straight! python2-distribute and python-distribute are seperate packages which I believe can co-exist. So, if this is your problem all you need to do is check you have python-distribute (not "2"), if not install it, and then ensure you use easy_install-3.2 to install Sphinx.
Hope this helps you.