First a disclosure: I have never used Quicken Essentials for Mac.
Next: any Quicken for PC user will be disappointed with any version of Quicken for Mac since about 2000.
So the real issue is exactly what you want to use Quicken for on your Mac and what the depth of features needed will be.
Before I hear your answers, you have 3 options:
1. Use Quicken 2007 for Lion (and now Mt. Lion) - you can purchase the complete program for $15 from Intuit:
2. Use Quicken Essentials - I am told that this is an even more stripped down version of Quicken 2007 for Mac and is almost universally panned on this forum by Quicken for Mac users.
3. Use Quicken for PC running in Windows in Bootcamp and/or virtualization such as in Parallels.