Numain,
Thank you for taking the time to share you comments with us (even though they point out some areas we need to improve in) — let me address each one.
Performance: figuring out that I need to disable capabilities to improve performance
Which capabilities did you disable? We are actually working to address this issue very shortly with a MyEclipse Lite distribution — you can build out the IDE any way you want.
Fighting with the 0 delay hover in the (java code) editor
This was most likely a change in the JDT — we don’t instrument the base Eclipse Java tools in anyway. I imagine there is a hover delay setting in the Preferences under Java > Editor somewhere.
Trying to install 3rd party plugins
Ahh, this is absolutely our fault and is being rectified very shortly with an update to Pulse to provide a major update to how plugins are managed from inside MyEclipse. This release has been in internal QA for about 2 weeks now, tightening and refining the code to make everything much smoother and easier to manage. We are looking at doing a release late this week or early next I believe once the release is tightened down completely.
We are really sorry for the delay with regards to adding 3rd party plugins locally — that was a bad strategic call on our part shipping 7.0 without that.