One thing i will add that was touched on by other posters.
In my (albeit limited) experience, it is a mistake to compare the features of product A (out of the box) to product B (with lots of community-built extensions/addons).
The more addons/extensions you use, the harder it is to maintain, and in general the more likely you are to have problems and strange interactions, and trouble upgrading.
That's not to say you shouldn't use extensions/addons, but it is to say that you should prefer a system whose CORE is closest to your needs, and that relying on a large number of extensions to get the functionality you want is never as simple as it seems.
When I get up to speed with Django however I am sure it will become my preferred choice over Drupal.-bscott
im looking into the same transition at the moment and have much of the same feelings as you. I have done work with Drupal hoping to use it as a "framework" because of the very excellent developer-friendly approach to coding and good documentation, but just found Drupal too alien and too large a CMS to work well as a general framework. From the perspective of building general purpose website applications, Django looks promising. However, deployment of Python sites is much trickier than PHP, and there is a lot about Django i don't love. Haven't found a better framework yet though (pylons looks interesting but a bit chaotic).