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There are several credible web pages that tell you how to setup wget on OSX Lion. I don't know why I couldn't get 'sudo make install' didn't work as a final step, but copying the fresh binary out worked per this page:

$ sudo cp src/wget /usr/bin

http://www.elfnet.org/2012/01/09/wget-os-lion-10-7/

Not going to ask too many questions. :)
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