Tastypie is nice if you want to bang out a rest interface directly to your models quickly.
I prefer DRF for pretty much anything else. Two reasons:
1. There's more tools in the toolbox for simple but arbitrary problems. Need a one-off endpoint that takes a POST and returns json and is throttled? The @api_view decorator and company make it easy: http://www.django-rest-framework.org/api-guide/views#functio...
2. DRF is a lot more easily extensible, and that extensibility is well documented. Tastypie's documentation is pretty good, but DRF's is great. I often found myself digging around in tastypie's source figuring how exactly to punch holes and make it do what I want.
- I think Rest Framework's documentation is way better than tastypie's.
- I found tastypie's source code to be overly complicated, while DRF was a little bit better
- The browsable API is really nice
- I love DRF's API, such a Class Based Views, it felt like the continuation of Django, instead of a complete new thing.
I think is the closest in python to the (IMHO) best API-framework thing that I have used (http://www.remobjects.com).
I've had a look on their site and can see a number of different products; which is the API framework as it's not obvious to me?