Due to contributions from both Apple and Christoph Sorger, Sage now builds on OS X Mountain Lion (OS X 10.8), or at least it builds on my machine and on his. With the most recent updates to OS X (10.8.2, released yesterday) and Xcode (4.5, released within the last few days), most of the problems we were having seem to have gone away. For many users, I think, there will be just one remaining issue: building scipy, which Christoph has found a solution for.
By "many users," I mean those who choose not to install X11. Starting with Mountain Lion, X11 is no longer distributed as part of OS X; instead, it has been split off into a separate project -- see
http://support.apple.com/kb/HT5293. It is possible (based on Christoph's experience) that if someone has installed a version of X11, then they may run into problems building gd for Sage. I haven't looked into this at all.
Anyway, see trac #13309 for the scipy spkg:
http://trac.sagemath.org/sage_trac/ticket/13309--
John