This post is gentle ribbing at the best developer I work with at JPMorgan: Mike Doberenz. He is a big Eclipse fan, I am an IntelliJ fan. It's a little like the Emacs-v-vi flame war except that there is an actual argument in favor of Eclipse.
Martin Mikkelborg writes a helpful post on preferring IntelliJ to Eclipse for Android development.
As Mike and I often observe, folks like me feel IntelliJ is better than Eclipse. But I also believe the development model of Eclipse is likely to win out in the long run (units arbitrary):
However, JetBrains has done brilliant work lately in bringing out a free, community edition and keeping their API accessible to plugin authors. It will be interesting to watch the contest of editors over the next few years.
Here is JetBrains explaining how they succeed in an interview with Michael Hunger.