After almost 6 hours of finding the right solution, the steps on this page are by far the most accurate, which worked perfectly on my mac 10.6.8
http://www.pythonsummerschool.net/index.php?url=mac_pyqt
Now I can convert * .ui files to * .py files on the terminal:
Once you have installed pyQt using sip and all the relevant dependencies, as described in this link, you need to go to / Applications / Python 3.2 / Update Shell Profile.command and run it.
Check path variables: env | grep PATH
Once everything points to your last Python installation, you can double check by running / Applications / Python 3.2 / Update Shell Profile.command
Then it is as simple as pyuic4 / Volumes / BOOTCAMP / yourfile.ui> /Volumes/BOOTCAMP/yourfile.py
Good luck
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