This post is a bit old but still 100% valid. Jinja is a bit smarter than Django templates in some areas, includes Django support, and is wicked fast with the C speedups.
It makes me wonder if http://lucumr.pocoo.org/2008/9/16/why-jinja-is-not-django-an... is using the speedups or not. It seems that 400 ms might be slow with them all enabled...