With some help from the IRC Channel - I got pointed here - I was able to get Eclipse running. Seems I had to specify the VM path - there's likely something going on with my search path.
So, there it was - not showing any of the system code. I followed some advice from this thread, and Eclipse promptly crashed with a fairly useless error message. Now, even given my previous post (the chirpy one about Civ 4), it's entirely possible that Civ 4 left my machine in a weird state. On the other hand, VW and BottomFeeder are operating fine, and the sometimes shaky Eudora hasn't crashed.
So my evaluation is still nebulous. Of course, this is Windows, and experience has taught me that "works on my machine and not yours" is common enough. I don't have a new enough Linux box to contemplate running Eclipse (It's a PII 400 - although, I should point out that VW runs just fine there :) ). Anyway, I'm still looking.