Just a notice; if you try to apt-get install pip, it will get the wrong package.
If you try to apt-get install python-pip, it will get a very old version of pip.
Best thing to do; download and install manually: http://pypi.python.org/pypi/pip
Ubuntu 11.04 does not have this problem.
Alternatively, use apt-get install python-pip
Then upgrade it:
pip install –upgrade pip
If you do pip –version, it will probably still show 0.3.1
apt-get puts pip into /usr/bin/pip, and upgrading adds the new version to /usr/local/bin/pip (if I remember correctly), so what you can do:
mv /usr/bin/pip /usr/bin/pip-0.3.1
pip –version again should show you 1.2.1, or whatever the latest version is