Ok here is how I compiled love on wheezy.

Install mercurial

sudo apt-get install mercurial

Clone the Love repo

sudo hg clone https://bitbucket.org/rude/love

Install dependencies

sudo apt-get install build-essential automake libtool libphysfs-dev libsdl-dev libopenal-dev liblua5.1-0-dev libdevil-dev libmodplug-dev libfreetype6-dev libmpg123-dev libvorbis-dev libmng-dev libxpm-dev libxcursor-dev libXxf86vm-dev

Navigate here

cd /root/love

Run automagic

sudo ./platform/unix/automagic

Configure

sudo ./configure --with-lua=lua

Make

make

Install

sudo make install

Run your game using love "game.love"

Someone let me know if my steps didnt work, I didnt document what I was doing along the way and it was hard to remember. You can test love by just using love without a game. If you get a segmentation fault error(which I did) just reboot.