CD digital audio ripping tool for OS X that has accurate extraction, error detection, and verbose reporting?
XLD

It started out as decoder/encoder/transcoder tool but it's branched out in to ripping in recent years (version 20080812 and above have ripping features) and it supports most of your criteria:


Uses the AccurateRip technology, comparing MD5 sums against known-good library of rips to ensure the rip was done correctly.
Uses cdparanoia 10.2 as the ripping and error correction library. Can be used on drives that don't have Accurate Stream and utilize C2 error pointers.


(Source for above)

I can't comment on the "verbose details when errors arise" request because I've never encountered an error ripping with it.

It's free. It will multi-thread to speed up encoding of albums. And it's pretty fast. It's been my encoder/transcoder of choice for years now.