I am currently reworking one of my sites - Content-type: matter-transport/sentient-life-form. It was a Apache::MiniWiki based site before and is now in the transition to being a Django based site. The idea of the code for that site is to build a CMS based on Django that fully uses the Django admin. So the users should be able to do all management only in the admin, while the site itself behaves a bit like a Wiki. Autolinking, Autoediting of missing pages, Editlinks, Versioning (currently missing in the source) - all that should be done based on tools the Django admin provides.
This isn't for a full-blown site, though - the linked site is allmost empty, I never put much up there. It's more a project to dig deeper into the Django admin to see what it's like to work in it - so I know about that stuff when I start to build real projects.
The code itself is freely available - and there is already a nice thing in it. It's a template loader who pulls stuff from the database instead from the filesystem or from python eggs. It's "ticketed" at Django under #633, so it might make it into django.contrib some day.