Running emacs -nw in Terminal.app on my Mac has been pretty frustrating, until today. To fix the experience, download and install KeyRemap4MacBook (I sure hope it's not malware). Click on "Change Key." Scroll down until you find "For Applications." Expand that to "Enable at only Terminal" and select "Change Command_L to Option_l." Expand "Change Slash(/) Key" and select "Control+Slash(/) to Control+Underscore(_)." You might also want to select "Switch next and prev tab in terminal with shift and arrows (like Gnome term)."