I have various reasons to develop against Java 1.5 (and 1.4!) and found that Java 1.5 is missing from OS X Snow Leopard.
These instructions worked perfectly for me. Once I installed 1.5, I used the Java Preferences in OS X – /Applications/Utilities/Java Preferences to make 1.5 default.
A Java update will probably break this, so when that happens, these steps will likely have to be repeated.
Java update *did* break it, but I repeated the steps and am back in action.
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