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Windows users: Installing Psycopg2 via pip will sometimes fail if you don’t have your compilers setup properly.
An alternative installation method is to install Psycopg2 with a pre-bundled executable:
> easy_install http://www.stickpeople.com/projects/python/win-psycopg/psycopg2-2.4.5.win32-py2.7-pg9.1.3-release.exe