pydev does not recognize django installation
I had the exact same problem - only with later versions of the different softwares: Python 3.3.2 and Django 1.5.1 under Eclipse with PyDev 2.7.5. I solved the problem differently: 
I simply copied the complete Django 1.5.1 folder into the Python "Resources" folder 
/System/Library/Frameworks/Python.framework/Versions/3.3/Resources/Django-1.5.1
and applied the interpreter again.
This worked right away, letting me create a Django project from within the eclipse. 
Hope this helps.
Frank
I have python 2.6.1 installed with django 1.3 and PyDev 2.0. I am able to import django and print the version from commandline. However, when I try to create a Django project with pydev or even import django I get an error. When creating the django project, I get "Django not found." error.
I have tried removing and adding the pythong interpreter to rescan the site-packages. I see that django is not available in the Libraries section. I have even tried adding the folder manually and applying the setting. 
Am I missing something?
Thanks