The genre almost died at the end of the 90's, in part due to the lack of commercial success for Grim Fandango.
There were a few franchises that survived, like the Broken Sword and Runaway sagas, and a few more games by other studios. Then Telltale, founded by a few LucasArts drop-outs, started to bring some new life to the scene.
If you like the adventure games of the 90's, you can play some of them in ScummVM, or DOSBox.
Most of these adventure games were programed using custom languages and VMs. ScummVM reimplements a dozen of such engines, for more than 60 games supported. It can also run some windows games like MI 3, or the first two Broken Sword games. Furthermore, they have been able to get some of the supported games to be released as freeware.
DOSBox, being an X86 emulator can run most if not all of the DOS games of the era. With some work, it is possible to get it to run Win95.
Both of these projects are FOSS and have (among others), a Mac OS X port.
You can buy some more ScummVM or DOSBox games at Good Old Games (GOG).
I've heard that some of the TellTale games are supported by WINE (hence Darwine and Crossover Mac), but I don't know which ones.
http://www.scummvm.org
http://www.dosbox.com
http://www.gog.com
http://www.telltalegames.com