Same procedure as every year: a new Eclipse release is coming: Eclipse 3.4 (Ganymede). There’s no other software project publishing every year a new release at the same day.
Since some weeks I’m working daily using the 3.4 Milestones and you should do the same: download the actual release candidate and test your environment.
Enhancements in Databinding, PDE Tooling and Equinox are most important for me – best you take a look at the “New and Noteworthy“.
Something problematic is the new P2 – replacing the old Update mechanism. In 3.4 Eclipse – Installations can share a bundle pool. Loosing the external locations for bundles is hard for me, because I use them heavy.