BBEdit's command line interface, bbedit, accepts input from stdin, displaying it in a new untitled document. What can this do for you? You can use BBEdit instead of cat or more or less to look at text output (or use it to edit/create a new file).
Try these examples in the terminal:
% echo "hello world" | bbedit
% ls /Applications | bbedit
% grep -i apple /etc/services | bbedit
% zcat /var/log/system.log.0.gz | bbedit
Obviously, the possiblities are endless. And as flexible as less may be, BBEdit is substantially more Mac user-friendly. Note that this only works for the full version of BBEdit, not for BBEdit Lite.
Mac OS X Hints
http://hints.macworld.com/article.php?story=20030328165941518