I wrote previously a how-to to set your iTerm tab title.

I finally found a tool to do the same thing with the default Mac OS X Terminal.

Check it out here, it works perfectly for me!  link is dead.

On my Mac OS X 10.6.6 and bash (3.2.48(1)-release), you can set your tab title with the PROMPT_COMMAND variable as follow:

export PROMPT_COMMAND=’echo -ne “\033]0;${USER}@${HOSTNAME%%.*}\007″‘

Add this to your .bashrc or /etc/profile file and you’re done