For future reference for Mac os X peepz. My problem was the pbsetup program would not complete it's auto update feature. It simply stalled, don't know why.
The evenbalance website has a manual update feature. I had to download 3 files for mac os x. They must be in the correct folder. I think all 3 had .htm.webarchive extensions. After saving, strip off the .webarchive extension and put all 3 in the htm folder that's inside the pb folder, which should be in the Quake folder, but not the baseq3 folder.
So there you have it. Hope this isn't too confusing.
This may apply to other platforms. If your pbsetup program stalls, try the manual download, and put those files in the correct directory.