Scooter,
I use a Macbook Pro (OS X 10.4.9) and run CFMX 7.0.2 (on top
of JRun 4 and NOT as a standalone web server) with no issues. I
also have CS 2.3 Premium on my machine. I will be getting CS3 in
about a week or two when it releases but there should be no issues
whatsoever with this configuration.