These days I’ve been playing with the new version of ITerm: ITerm2. I totally recommend it. It has many amazing features such as: full screen terminal, vertical/horizontal split (not tabs), Growl notifications, etc.
After that I’ve configured Solarized as my color scheme in both IntelliJ Idea and ITerm, and is really clear, light and clean.
Besides that, with a couple of lines in some config files I’ve configured bash to show colors in the prompt. You just need to edit the file /etc/profile and add:
alias ls=’ls -G’
and the file /etc/bashrc:
Instead of those, you can edit your local files .bashrc and .profile but it will apply only to your user.
If you want more details about the prompt configuration or the colors, please check this.