I prefer OS X's stock Terminal app to iTerm 2 because it automatically reopens and restores previous terminal windows and tabs and keeps the scrollback for each tab (although bash history is lost per tab, reasonable since bash is a separate program from Terminal). iTerm2 used to be a much better Terminal but Terminal has gotten better and is more than usable now. iTerm2 does have some cool features like instant replay/rewind, better support for the mouse for vim. [Note: xterm is also available on stock Mac OS X.]
Besides restoring, you can save your windows and tabs as a 'Windows...