Also note that the default Django template is showing it's age. I don't think it's ever been updated and it contains a few faux-pas to look out for. In particular, it starts you off inside a python package (__init__.py file), which is highly confusing. If you later want to treat your Django project as a normal Python project, you need to create a setup.py file. But this file would be one directory up from the project directory ... which is outside of your Django project. Django puts the directory one level up on your PYTHONPATH to compensate for this, with the assumption that part of your project lives outside of version-control, etc. The solution is to remember to put the directory above the directory that the project lives in version-control and treat it as part of the project. Although then you have to put a library location on your PATH to run the manage.py commands, since this file won't work if placed in your projects /bin directory.
(Speaking of /bin directories, it's always bugged me that Rails renamed this directory to /scripts ... if it's executable, it goes in /bin, it makes no sense to split executables based on arbitrary implementation details)