ABBYY FineReader Express Edition
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Full user review
"Best Mac OCR available currently"
Is pretty much auto pilot, but can tweak conversion if desired
does a great job with B & W
Does a great job even with complex colour photos and text mixes
can convert PDF to text searchable PDF
reasonable speed compared to previous solutions
No preferences adjustment of any sort cant set jpeg compression level
Slightly overcompresses jpeg elements for my liking when creating searchable PDF's from pre-existent jpeg pdfs, some compression slider for this would make a big of difference, as sometimes need less compression, other than this gripe very good OCR.
best option on the mac at the moment, unless you want to convert on a pc in which case abby finereader pro is the more controllable option.