Eclipse can be used to edit and compile LaTeX! To do this, you need the plugin TeXlipse (http://texlipse.sourceforge.net/). You can check more detail about how to install it from the online manual (http://texlipse.sourceforge.net/manual/).

Once TeXlipse has been installed, I will suggest the following configuration if you want to build a pdf via latex+dvi2ps+ps2pdf:

Configure dvi2ps:
argument: -t letter -Ppdf -G0 -R0 -o %output %input

Configure ps2pdf
Arguments: -sPAPERSIZE#letter -sDEVICE#pdfwrite -dPDFSETTINGS#/prepress -dCompatibilityLevel#1.3 -dAutoFilterColorImages#false -dAutoFilterGrayImages#false -dColorImageFilter#/FlateEncode -dGrayImageFilter#/FlateEncode -dMonoImageFilter#/FlateEncode -dDownsampleGrayImages#false -dDownsampleColorImages#false "%input"

Besides, set up the viewer s.t. the .pdf will be opened by Acrobat Reader.