Never did get this to work on under OS X; did get it to work under Ubuntu. Didn't really end up needing it past the last project, combined with no OS X support/help/tutorials, I decided not to hold on to it and am putting it for sale on fleabay:
No, the ./configure command does not work as I get the following result: checking build system type... Invalid configuration `ft2232': machine `ft2232' not recognized
Pretty sure something isn't configured correctly in the build, but unsure how or what to change. Maybe someday this will be more plug and play.
I've downloaded and installed the proper FTDI drivers and even libusb open source drivers and I am unable to connect to the Bus Blaster using urJTAG, which I compiled with the FTDI option and it seems to work without trouble. Using the "cable" command doesn't work using any of the options.
It seems my problem is either drivers (which I think I've done correctly) or compiling the program (which I also think I've done correctly). Is this a OS X platform problem that I'm oblivious to? Any hints for what to look at again?