I didn't notice any glaring errors in the config.log.what's the output of latex2html configure look like?
on Snow Leopard but all are set to no on Lion. The paths to GIFTOPNM, PPTOGIF and the like point to /usr/local/bin on Snow Leopard, because of my homebrew installation, but in the Lion configure they have no path, just the name of the respective executable. It looks like it's netpbm.
I had another go with homebrew last night and it failed to complete the netpbm installation, telling me that I already have libtiff and to unlink it but applying the instruction didn't seem to make any difference.