"using raw SQL exclusively becomes time consuming when you need to make the jump between the raw sql results and objects"

I don't find that to be true. You write the SQL, you've already written your Objects, you write a 2-3 line row -> object(s) mapper (supported by your own utils, or something like Spring). You have clear control and mapping between SQL and Object.

This said, I like what I've seen and used of the Django ORM so far, but then my application has not been anywhere close to as complex as the "day job" RDBMS.