Mysql 1050 Error "Table already exists" when in fact, it does not

Sounds like you have Schroedinger's table...

Seriously now, you probably have a broken table. Try:

• DROP TABLE IF EXISTS contenttype
• REPAIR TABLE contenttype
• If you have sufficient permissions, delete the data files (in /mysql/data/db_name)

from MySQL Log:

InnoDB: You can drop the orphaned table inside InnoDB by
InnoDB: creating an InnoDB table with the same name in another
InnoDB: database and copying the .frm file to the current database.
InnoDB: Then MySQL thinks the table exists, and DROP TABLE will
InnoDB: succeed.