Got to have more fun with trying to build Vim on OS X last night. I noticed Vim 7.1 was released so I decided to update. That turned out to be a mistake.
Turns out the Aap build file had an "unrecognized item" of build-resource. I don't know Aap but it looked like a target with that name existed so I didn't know what was going on.
At this point I have given up on the Aap building procedure for Vim. So I got the svn checkout for Vim and built using configure/make. Specifically, I went into the src directory and ran ./configure there. To build with Python interpreter support make sure to enable it and to specify the location of your Python config ($prefix/lib/python/config). Then make. If you went with a GUI version then ``make install`` by default installs into /Applications. But if you specified --prefix it will put the Vim.app directory there.
I did replace the icons with the set I mentioned in my last Vim post. If you happen to view the icon for the app before doing the replacement OS X will cache the old icon. Make sure to right-click on the app and choose "View Info", click on the icon in the upper-right, and hit backspace to delete the cached version.