My personal blog site has been upgraded to Django 1.2.1. For me, upgrading was a simple matter of running:

sudo easy_install http://media.djangoproject.com/releases/1.2/Django-1.2.1.tar.gz

Everything else seems to work fine after that, except that I had to change an import statement for email_re:

-from django.forms.fields import email_re
+from django.core.validators import email_re

The regular expression is used for validating comment sender email addresess.

Update:

Also had to add CSRF support according to these instructions to make my custom comment form work.