for key, value in your_dict.items():
    if key not in your_blacklisted_set:
        print value

the beauty is that this pseudocode example is valid python code.

it can also be expressed as a list comprehension:

resultset = [value for key, value in your_dict.items() if key not in your_blacklisted_set]

You were close, try the snippet below:

>>> my_dict = {
...     "keyA": 1,
...     "keyB": 2,
...     "keyC": 3
... }
>>> invalid = {"keyA", "keyB"}
>>> def without_keys(d, keys):
...     return {x: d[x] for x in d if x not in keys}
>>> without_keys(my_dict, invalid)
{'keyC': 3}

Basically, the if k not in keys will go at the end of the dict comprehension in the above case.

def equal_dicts(d1, d2, ignore_keys):
    d1_filtered = {k:v for k,v in d1.items() if k not in ignore_keys}
    d2_filtered = {k:v for k,v in d2.items() if k not in ignore_keys}
    return d1_filtered == d2_filtered

EDIT: This might be faster and more memory-efficient:

def equal_dicts(d1, d2, ignore_keys):
    ignored = set(ignore_keys)
    for k1, v1 in d1.iteritems():
        if k1 not in ignored and (k1 not in d2 or d2[k1] != v1):
            return False
    for k2, v2 in d2.iteritems():
        if k2 not in ignored and k2 not in d1:
            return False
    return True

How about this:

{i:d[i] for i in d if i!='c'}

It's called Dictionary Comprehensions and it's available since Python 2.7.

or if you are using Python older than 2.7:

dict((i,d[i]) for i in d if i!='c')

Constructing a new dict:

dict_you_want = {key: old_dict[key] for key in your_keys}

Uses dictionary comprehension.

If you use a version which lacks them (ie Python 2.6 and earlier), make it dict((key, old_dict[key]) for ...). It's the same, though uglier.

Note that this, unlike jnnnnn's version, has stable performance (depends only on number of your_keys) for old_dicts of any size. Both in terms of speed and memory. Since this is a generator expression, it processes one item at a time, and it doesn't looks through all items of old_dict.

Removing everything in-place:

unwanted = set(old_dict) - set(your_keys)
for unwanted_key in unwanted: del your_dict[unwanted_key]