[Answer]-When I attempt to runserver, why do I get an ImportError Reason: image not found?

libpq.5.4.dylib should reside in /Library/PostgreSQL/9.1/lib/.

Try creating a link from /usr/local/lib/libpq.5.4.dylib to /Library/PostgreSQL/9.1/lib/libpq.5.4.dylib

I did note that I have no such link in my own /usr/local/lib, but then I am running 10.6.8.