iTerm won't run on my OS X system. Troubleshooting ideas?

iTerm won't run on my OS X system. Troubleshooting ideas? I just installed iTerm 0.10 on my OS X Snow Leopard system. When I try to launch it, the menu bar says "iTerm" for about a tenth of a second and then it vanishes. It's not listed in the Activity Monitor.
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Guest [Entry]

Try removing, ~/Library/Preferences/net.sourceforge.iTerm.plist and start it again. Snow Lepord has some known issues with iTerm.