I judge software still in development by the people developing it, especially if it's something that'll be part of my project for a long time. It tells me about the direction it's going, and it's a fast and incredibly accurate method. If you heard that Linus Torvalds designed a DVCS, and Microsoft designed a DVCS, which do you think would actually work? Hopefully, that decision wouldn't take more than 10 seconds. There are exceptions; you might have subtly different (but important) requirements than what the library/tool author was designing for.
When you see this amount of unjustified duplication and defensive rationalization (including off-site remarks from the developer that building an ORM is easy), warning sirens should go off in your head.
I did go through some of the source code, but it's not my job to provide detailed code review. I can say that the packaging is strange, it doesn't resemble Python, and I've seen better versions of everything bundled in web2py. I'm not sure the integration and "ease" of install is worth being stuck to this framework.