It seems that Xcode 4.3 has changed standard SDK-folder from /Developer/SDKs to
and therefore make.osx build fails. Changing the path in export CFLAGS and export LDFLAGS
seemed to do the trick.
@assamite: Have you tried using setup.py instead of make.osx?
Closing this as the prefered option is to use setup.py. @assamite : If you have any problems with using setup.py please let us know and I will do everything I can to help. Ultimately, if there are major issues, we might have to consider reverting any change that comes about from #1322. Thanks!