I think it's good. (Disclaimer: I'm a co-creator of Django)
The ORM is Django's most powerful component, IMO. The syntax can look a bit off-putting at first (the double underscore stuff) but it's amazing how productive it can be at the sort of queries that make up the bulk of any web app. I guess maybe it's an acquired taste.
Inheritance is a key concept of the template system, and one of its most useful features.
You absolutely can use the template system outside of Django, but it's not available as a separate package so you still end up with the rest of Django is a dependency - definitely not ideal. Jinja is a very neat rewrite of Django's template system that is available as a separate package.
Trying to remember some examples that I didn't like. The ORM mapper was ugly, and I think the templating system is really inflexible - like you can not use it isolated from Django, or it couldn't do "inheritance", or something like that.