Every developer I know spends time (a lot) in the terminal, so make it a nice experience and make it yours!
This set of dotfiles takes into consideration the way OS X loads the terminal environment. Read more here: http://www.joshstaiger.org/archives/2005/07/bash_profile_vs.html. Bonus vim config file, .vimrc, for vim fans!
For a better experience than the Mac terminal: http://iterm2.com/