[Bruck]

Either I have a dead converter, or mac's don't like ps2 converted keyboards?

I was trying to use a MS Natural Elite today - no go. Also had trouble with a known working Compaq ps2 model as well.

Am I out of luck at getting a Natural Elite to work on my mac? (MS never made it in USB native)

[OreoCookie]

Works fine on my dad's Mac mini … 

[mduell]

There are two different kinds of PS2<->USB converters: simple pin adapters (for keyboards that support USB and just need the plug changed, about $0.50) and actual converters (for keyboards that only support PS/2, about $5).

Buy an actual converter and you'll be fine.
Newegg.com - Link Depot USB-PS2 USB to PS/2 Convertor - Retail

[xsphat]

I use a 21 years old ADB Apple (obviously) keyboard everyday with my MacBook. I know this is comparing apples to oranges but I think the keyboards or that era were just made better.