How to do django syncdb in version 1.4.2?
Thanks Amyth for the hints. 
btw the commands is a bit different, i will post a 10x tested result here.
Using south 
1. setup the model
python manage.py schemamigration models --initial

dump data if you have to

python manage.py dumpdata -e contenttypes -e auth.Permission --natural > data.json

syncdb 

python manage.py syncdb
python manage.py migrate models

load the data back into the db 

python manage.py loaddata data.json

Afterwards, you may use 

python manage.py schemamigration models --auto
python manage.py migrate models
after every change you made in the models schema

A few notes 
1. Unloading the database and reload it is essential, because if not doing so the first migration will tell you already have those models. 
2. The -e contenttypes -e auth.Permission --natural parameter in dumpdata is essential otherwise exception will be thrown when doing loaddata.
How to do syncdb in django 1.4.2?
i.e. having data in database, how to load the models again when the data schema is updated?
Thanks in advance