Python - Replace based on another file

$ cat main.txt
P|34|90
T|12
R|0|1291870414|ip1|890
R|1|1291870415|ip5|690
R|2|1291870415|ip1|899
R|3|1291870412|ip2|896
R|4|1291870418|ip3|999
R|5|1291870419|ip5|191

$ cat lookup.txt
ip7|172.17.4.8
ip1|172.17.4.3
ip5|172.17.4.9
ip4|172.17.4.2
ip3|172.17.4.1
ip2|172.17.4.6
ip6|172.17.4.7

Required Output:
Replace the 4th field (pipe delimited) of the 'R' lines of 'main.txt' with the corresponding lookup value from 'lookup.txt' i.e. 'ip1' to be replaced with '172.17.4.3', 'ip2' with '172.17.4.6' etc.

P|34|90
T|12
R|0|1291870414|172.17.4.3|890
R|1|1291870415|172.17.4.9|690
R|2|1291870415|172.17.4.3|899
R|3|1291870412|172.17.4.6|896
R|4|1291870418|172.17.4.1|999
R|5|1291870419|172.17.4.9|191

The python script:

import sys
d={}
for line in open("lookup.txt"):
    line=line.strip().split("|")
    d[line[0]]=line[-1]
for line in open(sys.argv[1]):
    if line.startswith('P'):
        print line,
    if line.startswith('T'):
        print line,
    if line.startswith('R'):
        line=line.strip().split("|")
        print '|'.join(line[0:3])+'|'+d[line[3]]+'|'+'|'.join(line[4:])

Executing it:

$ python replace-from-file.py main.txt
P|34|90
T|12
R|0|1291870414|172.17.4.3|890
R|1|1291870415|172.17.4.9|690
R|2|1291870415|172.17.4.3|899
R|3|1291870412|172.17.4.6|896
R|4|1291870418|172.17.4.1|999
R|5|1291870419|172.17.4.9|191

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