This is how I started Latex on Mac.
1. Install TextMate. You need MacTex as well for this.
How to install TextMate (Mac OS X).
2. Download IEEEtran tex package from here.
3. Open "bare_conf.tex" inside IEEEtran folder with TextMate, and just paste your paper content in the relevant places.
4. Use Mac inbuilt command "convert" to convert images to .eps.
4. Running "cmd + R" while in TextMate creates a PDF file in the same folder. That's it.
Some very useful references.
2. All the answers for the beginner's questions are at tex.se
3. An useful wikibook
4. Cross referencing, this site contains more useful hints.
I will share once a good source is found for referencing and citing.