installing texlive

Hi
Can anyone help with installation of Texlive on my new iMac (OS 10.3). 
Have tried the instructions on the DVD several times to no avail.

Everything seems to work as expected. Install runs smoothly.

Texconfig results in command not found.

Texlive suggests < /user/local/teTex > as the place for installation on 
Mac.

Is any of this correct? Have I lost the plot?

TIA

George