Some of you seriously need to look into the history and uses of EULAs before commenting on them. EULAs are not a contract between Apple and you that gives them some kind of overlord-like power over anyone with one of their products (although it's curious to see many of you implicitly hoping for that on one hand; I wonder how many of you denounced Microsoft when they have attempted that kind of thing in the past.)
The EULA is primarily a tool that a software company uses to head-off piracy and copyright infringement. Not only have the contractual legality of EULAs been successfully shot down in court, but it has been generally agreed that where EULAs overstep their legal bounds is where they attempt to control what an end-user may do with their software where it doesn't involve copyright infringement or piracy.
If Psystar is paying Apple for the copy of OS X they install on their hardware then no piracy is happening and no amount of prayer to your EULA gods is going to stop them.
Not entirely (although I see where you're coming from). Even without the EULA, standard copyright law applies, which grants the copy owner (in the first instance, PsyStar, then PsyStar's customer) the right of fair use. Although fair use is a vague term, I'd suggest that modification and re-sale of the work is beyond fair use. However, self-build Hackintoshes would probably fall within fair use so long as it's done for personal use only.
Note that the scenario above is entirely based on standard copyright law which applies immediately to any work. We're not even in the realm of licencing-versus-ownership of the copy. Ignoring the EULA, that puts OS X in the same realm as a novel. Assuming no EULA, if I buy a book (or Mac OS X), I own that copy and may do what I wish with it in private and for my own use. With the book, I can record myself reading it for use as an audiobook, but I can't pass that recording to anyone else. With OS X, I may tweak, change and generally mess with it -- get it to run on a toaster, even -- but I'd be outside of fair use to commercialise Mac OS X Toaster Edition and resell it. Simply because I do not own the vast majority of what consitiutes OS X Toaster Edition.