Just found this "great little article over at superuser.com":http://superuser.com/questions/131938/how-to-skip-words-in-os-x-terminal about how you can use meta-b and meta-f to use backwords and forwards by words in the CLI. Since there is no meta key, you have to use ?-b and ?-f (escape as meta). Optionally, you can set the option key as meta in Terminal's settings: !http://files.classyllama.com/dec8e77a/terminal-settings-meta-key-20110516-205752.jpg!
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