I should add that when my .bash_profile has
. /Applications/ConTeXtMinimals/tex/setuptex /Applications/ConTeXtMinimals/tex/
I cannot compile any file because of the mismatch between format and base files.

If I change my .bash_profile to
. /Applications/ConTeXtMinimals/tex/setuptex /Applications/ConTeXtMinimals/tex/texmf-osx-64/bin
as suggested in
When you want to use context, you need to initialize the tree by typing:
  . /Applications/ConTeXtMinimals/tex/setuptex
in your shell or add
  "/Applications/ConTeXtMinimals/tex/texmf-osx-64/bin"
to PATH variable if you want to set it permanently.
This can usually be done in .bashrc, .bash_profile
(or whatever file is used to initialize your shell).
I get the error message  
The argument "/Applications/ConTeXtMinimals/tex/texmf-osx-64/bin" is not a valid TEXROOT path.
(There is no file "/Applications/ConTeXtMinimals/tex/texmf-osx-64/bin/texmf/tex/plain/base/plain.tex")

Alan

'On Dec 1, 2009, at 11;15,15 , Bowen Alan C. wrote:

> Mojca (at last!)—
> 
> I see that I have two texexecs in my Minimals now:
> one in
> ConTeXtMinimals/tex/texmf-osx-intel/bin
> the other in
> ConTeXtMinimals/tex/texmf-osx-64/bin
> 
> Which one is the right one?
> 
> Alan
> 
> 
> On Dec 1, 2009, at 10;40,52 , Mojca Miklavec wrote:
> 
>> On Tue, Dec 1, 2009 at 13:25, Bowen Alan C. wrote:
>>> I have just installed the latest beta (minimals) and updated my
>>> .bash_profile (as advised) so that it now reads:
>>> . /Applications/ConTeXtMinimals/tex/setuptex
>>> /Applications/ConTeXtMinimals/tex/texmf-osx-64/bin
>> 
>> Why the second argument? (It's optional, but wrong in this case.)
>> 
>>> When I try to compile any file, I get:
>>> FatalError      : Your format does not match the base files!
>>> FormatVersion   : 2009.11.26 16:28 MKII
>>> FilesVersion    : 2009.12.01 00:14
>>> How do I fix this? (texexec --make --all did not do the trick.)
>> 
>> I suspect that you don't call the right texexec when you run it (maybe
>> you have another texexec in TeX Live?)
>> 
>> Mojca
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> 
> ___________________________________________________________________________________
> If your question is of interest to others as well, please add an entry to the Wiki!
> 
> maillist : ntg-context@ntg.nl / http://www.ntg.nl/mailman/listinfo/ntg-context
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> ___________________________________________________________________________________