(I may have upgraded to MacTex 2008 during this time, but even when I set my TeX distribution back to MacTex 2007 I am unable to launch LaTeXiT.)
Below is the Problem Report.
Thanks,
Flip
Date/Time: 2009-06-09 07:53:19 -0600
OS Version: 10.5.7 (Build 9J61)
Architecture: i386
Report Version: 4
Command: LaTeXiT
Path: /Applications/TeX/LaTeXiT.app/Contents/MacOS/LaTeXiT
Version: 1.16.1 (1.16.1)
Parent: launchd [90]
PID: 397
Event: hang
Time: 36.25s
Steps: 301
Process: LaTeXiT [397]
Path: /Applications/TeX/LaTeXiT.app/Contents/MacOS/LaTeXiT