People like to say that python+django is equivalent to ruby+rails. I largely agree, but that's only a first order approximation.
The rails community is larger than the django community. This means that whatever you are trying to do, you are more likely to find someone who has done it before in the rails community (along with the discussion, tools). This also means that the power tools for web-apps will be very good and plentiful. Due to that, rails > django. (Heroku is an example of this -- there is no equivalent for django that is so well established as being awesome). However...
The python community is larger and more diverse than the ruby community. This means that if you deviate from the usual track, there will still be a community to support you.
Python is popularly used in a variety of fields with very different needs. This leads to a very diverse ecosystem in python, both in terms of areas of specialization for developers and tools available. python > ruby. This makes me prefer python+django.
On that basis, I think you're much better off choosing a framework based on the underlying language rather than vice-versa. If you're happy with Python, pick a Python framework.
There's nothing you can do in Django that you can't do in Rails.
Perhaps the two biggest differences between Django and Rails are where you save time. With Rails you get scaffolding, so you have CRUD functions for everything more or less straight off the bat.
With Django you get an admin interface which is great if you want a backend, but you still have to write your own frontend pages.
Rails has built in Ajax and Schema migration. Django has external projects for it.
In some respects Django is a bit like Arch Linux and Rails is more like Ubuntu. If you like your frameworks to have everything bundled in and like Ruby then Rails is better for you. If you like things to be the way you want or you prefer python, consider Django and Pylons (and web.py).
And what yuvadam sais: Django and Rails are pretty much equivalent.
Both can be made to cleanly scale for whatever world-dominating project you have in mind.
Use whatever tool that will make you the most productive.
EDIT: according to Pylon's homepage it's used by Reddit...I thought they released web.py?