I now use Xcode to build EL, but it can be built from the commandline. Below are detailed instructions for building EL on a OS X PPC and i386 system.
I assume you have some knowledge of Unix/Linux commandline tools. Additionally, Xcode needs to be installed. It not needed on OS >= 10.4, but I had to update my gl_ext.h file for a 10.3.9 system.
I currently use MacCVS to keep my code updated, but the EL source can also be obtained through commandline tools. The main development site is here, with Anonymous CVS Access instructions. The modulename is elc.
Grab the linux data available from the main EL downloads site.
Rename the directory to "data". You can delete the linux binaries and any *.dll files if you want.
SDL-1.2.9, SDL_net-1.2.5, and (pre-10.4) OpenAL.
If you want music, then you will also need Ogg and Vorbis. While these frameworks are available (for PowerPC), I obtained the source and compiled my own frameworks.
While not necessary for commandline build, SDL-dev-1.2.9 is useful for Xcode work.
Version 0.10.0 is required.
Version 0.11.0 will not work.
I built cal3d as a framework, and you need to make sure the headers are in a "cal3d" directory inside "Headers".
I have a modified SDLmain.m and regular SDLmain.h to sync with the location of the data pack in the final app. This is done to (attempt to) comply with OS X programming standards.
This page is not yet finished, and a lot of it is from memory. I will try to get a xcode package placed up here at some point.