Torsten explains what a revolution in software isn't:

I dont think Eclipse is a revolution - it only assembles good ideas mixed with good marketing. Nothing really new. It also helps Java developers finding more acceptance for their applications by providing a native look.

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Any Smalltalk IDE is much more flexible as a system since it is based on pure objects not on files, static typing and static languages. Some questions you should ask yourself:

Can I fix a bug in Eclipse itself while it is running without restarting or debugging from another eclipse session? Can I add a feature to the debugger even when there is no extension point defined - just since I have to fix it or want to include a tool I need for faster development? Can I save the complete object environment (Object memory) in an image while debugging and continue debugging at exactly the same point the next day or on a different computer? Can I add a new control structure to the underlying language while the IDE is running and without changing the parser/scanner/compiler?

The funny thing is, Eclipse is edging towards an image model while clinging to the dead hand of XML configuration files and static languages. That debugging question, btw - that does come in handy. Our support people have had customers save an image when it gets to a bad state and send it to us - at which point they can look at the actual state of the system. That's a very cool feature, and it's really, really useful.