It works fine for me. I like the fact I can just copy over the whole eclipes 'install' directory from one computer to another and it just seems to work.
Same with workspaces, just copy that whole thing over. Works fine.
That's exactly the problem with Eclipse. Sure, you can copy over the whole "install" directory -- but what if you're working on another computer that has Eclipse already installed and you just want to copy over your preferences? What if I want to share my color scheme with another user? What if I want to upgrade to a new version of Eclipse and keep my old preferences?
What if I want to create a single project file that anybody on my team can open, regardless of where their Eclipse installation or workspace directory is? Heaven forbid we've got a diverse team of people using Windows, OS X, and Linux, and we want to make a project file that will work without any tweaking for everybody on the team.
The only other IDE I think is better in M$ Visual Studio
What I'm hearing is that you haven't used a lot of IDEs, because I've always found VS to be awfully lacking in features compared to most other IDEs. Qt Creator for C++ and IntelliJ IDEA for Java are my preferred IDEs nowadays.