I’ve just recently started to explore Rails, Ruby and ActiveRecord. There’s a lot to be said about the transparency of ActiveRecord, as it keeps your code relatively clean, and makes it very easy to quickly deploy database driven sites.
ActiveRecord supports inheritence but it requires that your parent table have a special column named “Type”.
Django’s ORM is deeply entangled with Django, which means it’s difficult to migrate, however it does NOT restrict you significantly on naming conventions – it simple builds tables according to classnames including their containing modules.
So if you django app is called “myapp” and you have a models.py with three different classes, “A”, “B”, and C”, your tables will be found as “myapp_a”, “myapp_b”, “myapp_c” respectively.
My recommendation is to use Rails to rapidly prototype your application, then migrate it to django.