Almost certainly not: I would imagine that 

"/usr/texbin" 

would be the appropriate directory here, as it contains all the tex/latex binaries. (Do you really have a directory "/usr/texbin/kpsewhi"? That looks like it's a truncated version of the location of the "kpsewhich" utility, which finds latex bits and pieces (ie it's the latex version of the usual "which" command in unix.) 

More to the point: I don't think you actually need to set the PATH manually for latex to work: if you've used MacTeX to install things TextMate should find what it needs to compile your files automatically. See the "Help" file inside the latex bundle.

Cheers,

Paul