Unfortunately for Netbeans zealots, it has never caught up with Eclipse.
It depends. In terms of how easy it is to create, say, an UI application, NetBeans is much better out of the box than Eclipse, especially its awesome visual Swing designer. I've also found J2ME development to be more of a breeze in NetBeans compared to Eclipse offerings.
The problem with Eclipse, it seems, is that it overemphasizes extensions to the point that, to do anything useful, you need some mix of extensions. And often there are several extensions available that do the same thing differently, so you have to pick. So it's kinda like Linux - it's pointless to debate it in general, because the specific experience really depends on one's set of extensions used.
NetBeans is much more of a "turnkey" approach - you download the full version, install it, and everything that it can do, is there and working. If you want web or J2EE development, you get the full stack of servers, too. In that, it's much closer to Visual Studio in approach (which may be a good or a bad thing depending on your perspective).