This has nothing to do with production mode.
The development experience is unacceptable with runserver in development mode. I have a trivial app with half a dozen apps and it takes 5 seconds to reload runserver when I touch a view file.
On the same hardware a ~6k SLOCs rails project with 40 gems reloads pretty much instantly because the rails dev server is smart enough to do code swapping.
Edit:
runserver_plus does nothing to make runserver reload faster, it is an improved stack trace with a built in debugger. Since I am already using django-extensions I tried runserver_plus and it added 2 full seconds to each reload.
So now it takes 7 seconds just for runserver_plus to reload after touching a view.