The Django API is surprisingly stable, so you may not have to rewrite it at all (if you don't want to).
I have a site that I made in 2007 using 0.97-pre - at least I think that what they called was 6688 trunk. Anyway, I ported the site twice, once to 1.0, and then to 1.1.1, the only "main" thing we had to deal with was to translate Admin into our own file, but that was mainly cutting and pasting in the editor plus a few settings. You will come across small material, such as maxlength , going to max_length , etc., but with this light material.
Check the Reverse Inappropriate Change lists here and here to see if something is throwing you. Read ORM docs as if you had never seen them before - a lot has changed. You might want to take a look at some of your model and query relationships and see if the revised ORM can make some of them easier / more efficient.
I recommend using Grappelli with Filebrowser (in fact, I think recent releases of filebrowser require grappelli). Take a look at Pinax for an entire basket of bushel applications integrated under one roof. There are many, and you kind of have to poke a little. Depending on what you do, GeoDjango may interest you. Etc. Etc. I am sure you will like all the new toys.
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