There are currently no viruses that run on the Mac, unless you count Word macro viruses, and even most of those don't do any harm other than infect the normal template and subsequently-opened documents. Not to say one won't eventually be created, but not thus far.
There are a handful of trojans, but unless you're downloading sketchy software (mainly cracks of commercial programs) off of filesharing networks, it's extraordinarily unlikely you'll end up with one.
There is some of what could be considered spyware, but it's drastically less common, and usually not as well-embedded; I've never once had a problem with spyware, nor have I encountered anybody who has.
Basically at this point if you are reasonably careful with what you download and how quick you are to give out your admin password when an application asks for it, it's highly unlikely you'll end up with any malware on your Mac. Maybe the day will come when that changes, but so far so good.
If, however, you want to be extra careful and/or frequently move files around between yourself and other PC users, such that you don't want to accidentally pass along an infected file that's harmless to your Mac, I'd recommend ClamAV. It is free, which is nice, but more importantly it doesn't screw anything up.
Norton et al are more deeply integrated into the OS, but in my experience that just means they're WAY more likely to break things or spontaneously delete important files than they are to save you from anything.
I don't trust them anyway--at work on our Windows machines we run a University license of Symantec AV Corporate, and it managed to completely overlook a virus on several infected computers, including on "full" scans and when it spontaneously copied itself to any mounted disk--I needed to download a free app to find and remove it. In contrast we run no AV software on upward of a dozen Macs, and the only problem thus far has been a single Word macro virus due to a user error (choosing to ignore the "open anyway?" warning Word gives).
[edit: there were no replies when I started typing this--I'm not being repetitive, really!]