Not one to wait around, a zealous Mac-Guru named "Mac.Intosh" has put together an installer package and has links posted on the Novatel Ovation U720 USB Rev A and Mac OS X Compatibility - EVDOforums.com
Several users have had success with the installer, and have already expressed great appreciation for the package, proclaiming "Mac.Intosh" to be royalty in the Mac community.
As with the Pantech PX-500, the resulting installation on the Mac is not perfect - you can't see connection information like bar strength, or see if you are on Rev-0 or Rev-A network, and you can't activate the u720, nor update any information on it. That still has to happen on a PC.
Regardless of the quirks, Mac users can rejoice in the fact that at least they CAN use the u720 on their Macs... and get this - reports show that Macs are getting faster u720 performance than PCs!