After seeing some of the comments, and the documentations for H5PY Groups, I've found that you can iterate through all of the H5PY "Items" to get the value associated to each variable name. I gave an example below. Please post if their is a better way of grabbing the variable names and values.
Note: The example only pulls the value of variables that contain numeric arrays (h5py.Dataset). If you have nested Groups or cell arrays then you need to access them further to get the values.
import numpy as np
import h5py
f = h5py.File('simdata_020_01.mat','r')
variables = f.items()
for var in variables:
name = var[0]
data = var[1]
print "Name ", name # Name
if type(data) is h5py.Dataset:
# If DataSet pull the associated Data
# If not a dataset, you may need to access the element sub-items
value = data.value
print "Value", value # NumPy Array / Value
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