As it happens sometimes, I've now come full-circle on MyEclipse. To recap, I started thinking that, while nice, it was too slow for my needs. Then several comments on the entry pointed out that they were not seeing those problems. So after a few days, I decided to give it another try, and discovered that with the proper configuration it was actually not noticeably slower than Eclipse on its own.

Now, after about 5 days of using it constantly, I have to correct myself and say that it is truly a fantastic addition to Eclipse. The hot deployment feature is the key to it all. Once all the proper deployment features are configured, you can be editing a file, make a change, save it, and then go to the browser and reload, and the changes are there, and this applies to both JSPs and servlets. Sometimes the hot deploy fails (usually when modifying static members or persistent classes) but that's not a big deal, and restarting the server is a span in those cases anyway. This, across pretty much every major application server that's out there, "out of the box". Other cool features include autocomplete on JSPs, support for JSTL and other JSP tag libraries.

Anyway, if you use Eclipse and develop web apps and haven't tried MyEclipse yet, give it a try. Just make sure you configure it properly. :)