
alexwhittmore has posted a detailed tutorial highlighting an open source IDE and toolchain for the STM32F4 dev board on Max OSX Lion. He uses Indigo R Eclipse IDE for C/C++ Developers (Mac Cocoa 64-bit), Sourcery CodeBench Lite Edition, STM32F4 DSP and standard peripherals library and the STM32F4 Discovery board firmware package.
Check out Alex’s website for links to these software tools and detailed instructions.

Oh hell. This tutorial isn’t quite complete. I’m almost totally done integrating the compiler and IDE halves, but I haven’t written it up the finale yet. Hold on, everybody.
As as easy alternative to CodeSourcery, MacPorts have a fairly current embedded ARM toolchain. They’ve also got an AVR toolchain, OpenOCD etc.
That’s actually the toolchain I’m using, although installed via homebrew.
Some of the packages are also in Fink, but they seem woefully outdated and unmaintained.
The only real downside with the codebench compiler is that the free version does not support the hardware floating point unit, which is a bit of a shame on the f4 (it also doesn’t help that the error messages you get back from gcc when trying to compile with fpu support are very cryptic).
What about CooCox, http://www.coocox.org/ it’s based on Eclipse, multiplatform and works for STM32F4
CooCox is Windows-only if I’m reading their website right.