I just created a new project using webAppCreator from GWT which worked fine. However, when I try to run ant hosted it fails with the following output:
 [java] On Mac OS X, ensure that you have Safari 3 installed.
 [java] Exception in thread "main" java.lang.UnsatisfiedLinkError: Unable to load required native library 'gwt-ll'.  Detailed error:
 [java] Can't load library: /usr/local/gwt-mac-1.7.1/libgwt-ll.dylib)
 [java] 
 [java] Your GWT installation may be corrupt
 [java]     at com.google.gwt.dev.shell.LowLevel.init(LowLevel.java:106)
 [java]     at com.google.gwt.dev.shell.mac.LowLevelSaf.init(LowLevelSaf.java:135)
 [java]     at com.google.gwt.dev.BootStrapPlatform.initHostedMode(BootStrapPlatform.java:68)
 [java]     at com.google.gwt.dev.HostedModeBase.<init>(HostedModeBase.java:362)
 [java]     at com.google.gwt.dev.SwtHostedModeBase.<init>(SwtHostedModeBase.java:127)
 [java]     at com.google.gwt.dev.HostedMode.<init>(HostedMode.java:271)
 [java]     at com.google.gwt.dev.HostedMode.main(HostedMode.java:230)
Related ANT task "hosted":
<target name="hosted" depends="javac" description="Run hosted mode">
    <java failonerror="true" fork="true" classname="com.google.gwt.dev.HostedMode">
      <classpath>
        <pathelement location="src"/>
        <path refid="project.class.path"/>
      </classpath>
      <jvmarg value="-Xmx256M"/>
      <jvmarg value="${XstartOnFirstThreadFlag}"/>
      <!--<jvmarg value="${d32Flag}"/>-->
      <jvmarg value="-d32" />
      <arg value="-startupUrl"/>
      <arg value="MyApplication.html"/>
      <!-- Additional arguments like -style PRETTY or -logLevel DEBUG -->
      <arg value="com.disney.MyApplication"/>
    </java>
  </target>