I updated the gcc symlink to point to gcc-4.2, but still no change. I haven't tried the other 2 steps that you have outlined. What is find, by the way?
Here is the error message:
elvis-dowsons-macbook-pro:overo-oe elvis$ bitbake omap3-console-image
NOTE: Psyco JIT Compiler (http://psyco.sf.net) not available. Install it to increase performance.
NOTE: Handling BitBake files: | (3416/6265) [54 %]ERROR: Information not available for target 'i386-darwin'