The Ipo.New function's documentation does not follow
the standard of the New functions for all the other
Python API modules. Every other New function that has
both a type and an name has the format illustrated by
the Object module shown below.

Object.New(type,name)
where type and name are both strings

The Pythom 2.32 API Documentation shows that the
Ipo.New function has a prototype of

Ipo.New(name, idcode)
where name is a string and idcode is an int

I had trouble getting the Ipo.New function to work, so
I went to the Blender sources for further clarification.
In the file "blender/python/api2_2x/Ipo.c", there is a
function called M_Ipo_New. It is the function that is
called when a Python call to Ipo.New is made. The code
verifies that the existing documentation is wrong and
should be changed to

Ipo.New(type,name)
where type and name are both strings