I have a very similar environment but I am using simple Eclipse IDE and basic
ant (from apache) to develop, compile, and deploy applications to WAS 7.
With EJB3 lot of RAD features of configuring EJB and Resource references is no longer needed.
For debugging you can use
java remote debugging features.
My biggest issue with IBM suite of products is there heavy consumption of CPU and Memory. I have a 4GB Core2 Duo and still my machine cries when I use RAD7.5 and WebSphere 7.0 together.