See this url from the ArcGIS Idea page
ESRI responsded with the following:
Thank you for posting the idea along with all your comments for why you feel the OMD is particularly valuable in your work. There are a few reasons we have chosen not to produce object model diagrams for the ArcPy site package. Traditionally Python’s own modules and other 3rd party site packages do not carry Object Model Diagrams. An OMD was provided with arcgisscripting to help customers comfortable with ArcObjects and its Object Model Diagram make the transition to Python. At ArcGIS 10, ArcPy was more than just a name change; it was a change in the way we organized and presented our python implementation, something that is more in line with the idea of a true Python site-package. In addition, major efforts have been made to improve the help for Python at ArcGIS 10. With arcgisscripting, there was limited intellisense and doc strings, so without some visual help directly in front of you, it was very difficult to know what functions and properties existed. The help is also better structured in ArcGIS 10.0 under the topic ‘The ArcPy Site-package’ with a list of all the functions and classes and embedded links between related topics. With these improvements to the documentation and built-in help within Python we believe all the resources are in place to successfully navigate ArcPy.