Django 1.4 Development Environment with zc.buildout

I am trying to create a dev environment for a Django 1.4 project using the following guide:

http://www.stereoplex.com/blog/a-django-development-environment-with-zc-buildout

The virtualenv part of the manual works fine with the following output:

virtualenv project
New python executable in project\Scripts\python.exe
Installing setuptools................done.
Installing pip...................done.                       

After that I can activate the development environment. Now I create a directory called Source , download bootstrap.py and create buildout.cfg with the following contents:

[buildout]
parts =

And run bootstrap.py for the following result:

Creating directory 'C:\\Dropbox\\XYZ\\project\\Source\\bin'.            
Creating directory 'C:\\Dropbox\\XYZ\\project\\Source\\parts'.          
Creating directory 'C:\\Dropbox\\XYZ\\project\\Source\\eggs'.           
Creating directory 'C:\\Dropbox\\XYZ\\project\\Source\\develop-eggs'.   
Generated script 'C:\\Dropbox\\XYZ\\project\\Source\\bin\\buildout'. 

This is where the problem arises - Installing Django . I configure buildout.cfg for the following and run the bin \ buildout created by bootstrap:

[buildout]
parts = django

[django]
recipe = djangorecipe
version = 1.4

bin\buildout :

(project) C:\Dropbox\XYZ\project\Source>bin\buildout.exe                      
Traceback (most recent call last):           

File "C:\Dropbox\XYZ\project\Source\bin\buildout-script.py", line 15, in <module>                                                                               import site # imports custom buildout-generated site.py                       

File "C:\Dropbox\XYZ\project\Source\parts\buildout\site.py", line 601, in <module>                                                                              main()                                                                        

File "C:\Dropbox\XYZ\project\Source\parts\buildout\site.py", line 584, in main                                                                                  known_paths = addsitepackages(known_paths)                                    

File "C:\Dropbox\XYZ\project\Source\parts\buildout\site.py", line 328, in addsitepackages                                                                       import pkg_resources                                                        

ImportError: No module named pkg_resources

, python , pkg_resources :

(project) C:\Dropbox\XYZ\project\Source>python                                
Python 2.7.3 (default, Apr 10 2012, 23:24:47) [MSC v.1500 64 bit (AMD64)] on win32                                                                              Type "help", "copyright", "credits" or "license" for more information.          
>>> import pkg_resources                                                        
>>> pkg_resources                                                               
<module 'pkg_resources' from 'C:\Dropbox\XYZ\project\lib\site-packages\setuptools-0.6c11-py2.7.egg\pkg_resources.py'>  

. ?