MyEclipse is based on Eclipse so it basically shares the same good points as what Eclipse has, e.g. a number of plugins. The only bad thing is that it's not free.
If you're looking for a free one, Eclipse and NetBeans are good.
SCJP 5.0, SCWCD 1.4, SCBCD 1.3, SCDJWS 1.4
My Blog
Jim, Freddy is exactly right. A lot of folks find Eclipse-based products more appealing because they are free to mix and match their favorite plugins in addition to any commercial ones they buy.
For example you might buy MyEclipse ($30) then add Subversive to it for SVN support, maybe some product from Instantiations, your favorite plugins from EPIC and so on.
I'd certainly encourage you to try both NetBeans and MyEclipse out for a month and see which one feels/acts/performs better for you.
Riyad
Don't get me started about those stupid light bulbs.