Installing LaTeXIt

LaTeXIt is a nice program for making equations, but it's a pain to install. I just spent far too long getting it to work, so I hope this forum will save others the grief. Here's how I got mine to work. Please post other methods and settings that work.

It needs Latex (that's a whole separate adventure to install), and Ghostscript.
Download Ghostscript from http://pages.cs.wisc.edu/~ghost/doc/GPL/gpl864.htm
and choose http://ghostscript.com/releases/ghostscript-8.64.tar.bz2 (the latest version).
Unpack that, and install it. Point your terminal to the folder it expanded to and run:
#./configure
#make
#sudo make install
(each of those will take a little while)
Ok, Ghostscript is installed.

When you open latexit for the first time, it will ask you for Ghostscript (gs) and ps2pdf.
(if you miss those or set them wrong, you can reset them in settings ->Composition)
For me, the settings that worked were:
gs: /usr/local/bin/gs
ps2pdf: /usr/local/texlive/2008basic/bin/universal-darwin/pst2pdf

by the way:
pdfLaTeX should point to /usr/texbin/pdflatex
XeLaTeX should point to /usr/texbin/xelatex
LaTeX should point to /usr/texbin/latex