David Wang has developed an awesome version of the original game that is playable on modern computers, called Dune Dynasty. This is my log of attempting to get it functional on Mac OSX Lion.
CURRENT STATUS: Working
This walkthru was for version 1.4. A new version 1.5 has been released which I'm told incorporates all of these OSX tweaks, so it should work out of the box! I will report when I have the time to compile the new version.