I downloaded the beta for my MacBook and I have to say that I'm quite impressed. It has the all important "just work" quality about it and the front end looks far more attractive than Windows 5.0.
At the moment I have to say that NetBeans might have the edge. Of course Eclipse has to finalise 3.2 for the comparision to be fair but given how rubbish NetBeans 4.2 was it is an amazing jump forward.