I'm really digging Eclipse. There's very little I don't like about v3.1—about the only thing I don't like out of the box is the Find/Replace dialog box. I'd like to see something a little more like HomeSite+ Extended Find/Replace dialog box. The good news is, I'm sure I can probably find a plug-in that will do pretty much what I want.
Anyway, what I'm really digging is Subclipse, which is a SVN plug-in for Eclipse that plugs right in to the "Team" context menu. The one thing I didn't like about Subclipse out of the box was it's re-labelling in my Navigation Pane. It adds a bunch of information that some users will probably want (last user to edit a file, date/time it was edited, etc) but I really don't generally care. If I do, I can just view the document in the Resouce History pane and I'll get all the details I want about the file.
Fortunately, Subclipse allows you to edit the labelling. I really like the way TortoiseSVN labels things in Windows Explorer, so I set up Subeclipse to basic emulate that labelling (while as close as you can with just text.) Anyway, here's a screenshot of my setup: