EDIT 3: The problem was with Java 7. I reinstalled Java 6 minecraft now works as expected.

EDIT 2: Crashes still occurring, I'm not sure what I did to launch successfully.

EDIT: Problem resolved itself. Several attempts at launching minecraft.jar eventually resulted in a successful launch.

What I expected to happen was...:
The game would open (in a clean instal of 1.5.1 using the original launcher)

What actually happened was...:
The game crashed giving me a crash report (attached)

Steps to Reproduce:
1. Run the new launcher to install 13w16a
2. Force update in original launcher.
3. Problem persists even after deleting all mc files from /Users/xxxx/Library/Application Support/minecraft and reinstalling.