Now that it seems we all need to use the i-Installer TeX distro in order to play nicely with TextMate, I'd like to recomend people to install the TeX CM-Super package also found with i-Installer. This basically makes pdflatex (and dvips etc.) store Type-1 fonts in the created pdf's and ps's, instead of on-demand created bitmap fonts from metafont sources (which is default).
True those bitmap fonts are usually high-DPI (sometimes 600), but a) Most viewers on X11 _hate_ bitmap fonts, and display a crappy result even for 600dpi fonts. b) When you zoom, you see the edges starting to show. c) Vektor fonts are _always_ preferable IMO, and might even take up less space :-).
Just install the package and it will be used automatically. Note: It's a rather big download.