Helping a colleague today and got a nasty message about MySql not being happy. Googled a bit of the error message itself and found helpful solutions online. We had to modify the joomla.sql file from the Installation folder, changing TYPE=MyISAM to ENGINE=MyISAM throughout the file.
I had a Query Tool for Postgres that let me open the .sql file. It did not want to open in a simple text editor.
The "repaired" joomla.sql file allowed the installation to proceed. Apparently this was a conflict between joomla 1.5.22 and the newest versions of MAMP and MySQL.