Unfortunately that's the best we have right now. However, the guy who wrote South (and is a core Django developer) ran a Kickstarter last month to raise funds to write South-like functionality directly into the Django core.
£17,952 pledged of £2,500 goal. So it looks like this should be happening. Stated intention as to when:
> As the intention is to get something into Django core itself, the idea is to land this for either the 1.6 or 1.7 release of Django. The work itself should be mainly completed by July 2013, and ready for alpha testing and feedback at that point for those who want to try a development version of Django.