Not sure if it's a good idea for me to wade into that particular religious war... :-)

Some good comments on both sides here:

http://www.quora.com/Python-Web-Frameworks/What-are-the-adva...

http://www.reddit.com/r/Python/comments/ktjm2/jinja2_or_mako...

http://stackoverflow.com/questions/3435972/mako-or-jinja2