Ask yourself this question: what do you get from this project? What do you want to know?
If you want to know the nuts and bolts of a web server in a difficult way: design your own web framework using Mako and other useful building blocks as needed. As @pulegium says, you will need to choose how to handle the HTTP level and the database level.
If you want to quickly and quickly launch a site, use Django. It is well documented and is an all-in-one solution. I found my admin interface a real killer. What Django does not provide is deployment tools; you will have to write a script or use a deployment solution to update the code on the server.
If you want to be more lazy: use the Google App Engine. (With the tacit agreement to follow BigTable rules, which is very different from popular relational database systems.) GAE takes care of installing and deploying your web application, registration, version control and other materials that you need to take care of when you start the site. You can also use Django for GAE.
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