Kind of offtopic, but since you're a core dev ...
One of my pet peeve with Django is the reliance on settings.py. This makes it a PITA to use Django's components in apps that aren't necessarily Django apps (or web apps for that matter).
For instance Ruby on Rails got separated in components and you can now import ActiveRecord in any project, without it being a Rails project or having a Rails project structure. Ditto for their database migrations ... you don't even need to use ActiveRecord to have the migrations DSL in a project. Doing this with Django's ORM is really, really ugly, mostly because of the reliance on a Django project structure. Why can't it be configured like any other Python library, in a pythonic way? Why does it need a global "settings" module?
Another pet peeve I've got is with the definition of an app. I hate what Django means by "app". It's totally un-pythonic. First of all the definition is unclear ... is it a module declared in settings.py? Not so fast, as some functionalities (e.g. manage.py test) expect those modules to have a "models" sub-module, even if it is empty.
Why does Django need apps anyway? It only needs apps for auto-discovery of model definitions. This goes back to Django's admin, which is a cool piece of software that I love, but how about declaring somewhere the modules that represent models, instead of building an unpythonic project structure?
I'm happy to hear that along with Django 1.4 you guys are working on project templates (really, that's awesome). But please strive to make it more pythonic / decoupled.