Ignacio's answer is correct, but might fail if you have a 32 bit process.
But maybe it could be useful to read the file block-wise and then count the \n characters in each block.
def blocks(files, size=65536):
while True:
b = files.read(size)
if not b: break
yield b
with open("file", "r") as f:
print sum(bl.count("\n") for bl in blocks(f))
will do your job.
Note that I don't open the file as binary, so the \r\n will be converted to \n, making the counting more reliable.
For Python 3, and to make it more robust, for reading files with all kinds of characters:
def blocks(files, size=65536):
while True:
b = files.read(size)
if not b: break
yield b
with open("file", "r",encoding="utf-8",errors='ignore') as f:
print (sum(bl.count("\n") for bl in blocks(f)))