Even though I have been developing with Eclipse for about 8 years now, I never found a good way to manage my favorite plugins in a way that works for me. During university and professional work I often had to and still have to install new instances of Eclipse on my computers. And everytime I struggle in finding and installing my favorite plugins.
Just recently, the Eclipse Foundation has launched the Eclipse Marketplace. Besides being a central place to search for eclipse plugins it has some additional benefits. Advanced searching, tagging, social linking and one-click plugin installation are just some of those. But to me the absolute killer feature is creating your personal list of favorite plugins. Not only does it become obsolete to search for all the individual plugins you like, additionally you can install them all together from just one update site url. The screenshot below indicates how you might access your personal update site url, once you have set up your favorites.
Once you have a list of your personal favorites, you can also share that list with friends, co-workers or the general public. Just like I do. So, go out there and sign up at Eclipse Marketplace. It saved me a lot of time and pain in setting up my eclipse installations, and so it may help you.