... I suppose this would be the approach for extending a base model.
My question is ... does it really matter which approach to take? Does
one approach have advanteages or pitfalls?

>>>>>>>>>>>>>>>>>>>>>>.

class BaseCost(models.Model):
        markettingevent = models.ForeignKey(Event)
        units = models.IntegerField()

class FixedCost(baseCost):
        rate = models.ForeignKey(Rate)

class StructuredCost(baseCost):
        cost_item = models.ForeignKey(CostItem, verbose_name="Item")
        unit_amount = models.DecimalField("Price Per Unit", max_digits=5,
decimal_places=2)

class OtherCost(baseCost):
        description = models.CharField("Name", max_length=30)
        unit_amount = models.DecimalField("Price Per Unit", max_digits=5,
decimal_places=2)

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