[Update:] You probably don't need to follow these instructions anymore, just make sure you're bootstrapping from 0.16.0 or the fink 0.6.0 full tarball, and immediately do a "fink selfupdate-rsync" (or equivalent) afterwards to get the proper tree and bugfixes.
Regardless, these instructions should still work, there's just nothing special about them anymore, there are official releases that should get you going on Panther. The note about not using the bindist is still true though, please make sure you only use 'fink' to install packages for now, there is no binary distribution!
That's enough update warnings, on with the post:
As of today, we've started populating the 10.3 tree properly, so here is an update to the previous instructions on my blog last week.
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set your compiler to 3.3 if it's not already, by running "sudo gcc_select 3.3" (parts of the bootstrap fail with gcc 3.1 on panther)
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download the latest Fink beta from the fink project page
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if you have a system already running Fink, run "perl inject.pl", otherwise, run "sh ./bootstrap.sh"; this will set you up to use the 10.3 tree as your base
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get the latest package descriptions:
Now you should be ready to go! Try to install things, and let us know if you run into any issues.
Remember, you should not use apt-get or dselect for installing things. The only bindist we have currently is for 10.2, and some of those binaries will not work on panther. Many of them will break as soon as you start mixing and matching things you've built on panther and things you've gotten from 10.2.
It is incredibly unlikely that a 10.3 bindist will be ready by the time of the panther release, but the source tree will definitely be there (and plans are to at least have a 10.2-gcc3.3 tree ready, which should generally be binary compatible with 10.3). It's coming, but be patient, we don't know when we'll be ready for a 10.3 bindist. In the meantime, use "fink install" to install packages.