Step One: Installing Dev Tools

Get the latest version of Developer Tools (if you're running Jaguar) or Xcode Tools (if you're running Panther).
All Apple Developer Connection (ADC) members can download the Developer/Xcode Tools for free from the ADC Member Site. Note that you can register as ADC member for free.
Here you can check the latest version available.

To install the developer software simply double click the Developer package icon on the Developer/Xcode Tools CD and follow the instructions in the installer.

NOTE: Developer/Xcode Tools MUST be installed on the same hard drive partition that you booted Mac OS X from.

Step Two: Installing PRC-Tools

Download PRC-Tools for Mac OS X and related stuff (approx 40MB):

Open the .dmg file you've just downloaded, then simply double click the PRC-Tools package icon and follow the instructions in the installer. If you would like to know where/what files are installed, please use Pacifist or, during the installation process at the "Select Destination" step, choose "Show Files" from the File menu of the Installer app.

Step Three: ... There's no step three!

now you're ready to go to the "try" section...