I have installed MinionPro in Tex Live 2011 under OS X using the package README and the crib in the last answer here : MinionPro on Mac OS X
The simple document
\documentclass{article}
\usepackage[T1]{fontenc}
\usepackage{MinionPro}
\begin{document}
This is a test.
\end{document}
failed under pdflatex with
!pdfTeX error: pdflatex (file MinionPro-Regular-Base-aa): Font MinionPro-Regula
r-Base-aa at 545 not found