Other than that, use iTerm2[0], Homebrew[1] and Cask[2], this'll kickstart your CLI env in the right direction.
[0] http://iterm2.com/
[1] http://brew.sh/
[2] http://caskroom.io/Yes it's not the most featureful terminal emulator in existence but it's well put together and works just fine.
And I suspect most others have similar reasons.
It's an OK default, but for real work it drives me batty to keep hitting the limitations it imposes. Sure, I could rebind everything and move to tmux in the terminal itself, but why, when iTerm2 is free and still frequently updated?
The tmux integration offered by iTerm2 is also pretty handy if you spend any amount of time on remote servers.
Be sure to change your default path to put /usr/local/bin first, so that all of the brewy and other goodness you install is actually picked up - and, if you install a more up to date bash, be sure to change your shell: System Preferences, Users and Groups, "two-finger" or "right click" on your name in the list on the left, advanced options....
I'm happy with the default terminal, works well enough.
EDIT: Not sure whether you will also need to change the default shell used by Terminal: start Terminal, Terminal, Preferences....