"./autogen.sh && make" should work fine. Though probably you will want to build through Xcode. I've got some changes to commit to CVS for the project file which could make it a little nicer for others, but you should just be able to open what's in CVS and be ok. With the project file in CVS you will need the SDL framework installed as well as the OS X 10.2 compatibility SDK. If you know Xcode then you should be able to take it from there, but if not then let me know and I'll give you a more detailed walkthrough.
The changes I still have to commit to CVS are to not forcibly use GCC 3.3 but the system compiler version instead, include both GCC3 and GCC4 versions of the OGG Vorbis static libs, and not use a compatibility SDK. I plan to commit those changes just after the next CVS build gets uploaded.
