I think you will find that the baud rate is 74880. That is the speed of the boot time messages.
Try running CoolTerm on your MAC. You can set non standard baud rates.
I have had no problems with FTDI chip at 74880.
See this post http://www.esp8266.com/viewtopic.php?f=32&t=2664
So more trials and tribulations. So tried a PL2303 and that seemed to be better at 1st but back to the issues again. I also welded up a ESP-12E to try if it was just the unit that was broken but nope it's still there.
So tried loading Nodemcu and esptool.py just gets to between 3-9% and then fails. Arduino IDE seems to load but when restarting I just get Fatal Errors (0) and (29).
One thing is odd. When I hook up everything to the ESP the voltage accross VCC and GND drops to about 2.7-3.05V. Is that correct? Or am I doing something wrong with powering the ESP? I have a 5v 2A power source and an LM1117 and a few caps either side. With nothing hooked up a perfect 3.299V
Cheers Oliver
LM1117 are a very copied IC, you might have a chinese clone incapable of the full current, I have come across them.
I would be measuring the current going into your reg, use a 10A range though, multimeters on sub amp ranges have substantial series resistance.
Decent wires, no breadboard ? you might be getting a voltage drop somewhere.
Since the first thing the ESP does is start an access point, your comms issues may not being helped by poor power supply.