Have a look here: http://code.djangoproject.com/wiki/ServerArrangements
In general, you should have two Web servers (e.g. Apache and nginx or lighttpd). Apache (with mod_wsgi) to serve Django and nginx or lighttpd to serve the static files (CSS, JavaScript, images, etc.).
I'm not an expert in hosting, so hopefully others with experience setting up a variety of methods will chime in with real-word experience.
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