Like all of the cool kids nowadays, I've switched to Sublime Text 2 for code wrangling. Sublime rocks for ton of reasons but I was always depressed when I had to switch back to Eclipse for Force.com work. Luckily about three months ago Joe Ferraro emailed me about his Sublime Text 2 plugin for Force.com. I'd used his TextMate version and knew it to be pretty cool.
The plugin is easy to install and update (Joe's released a ton of cool new stuff) and works extremely well. There are a few bugs/issues but Joe is quick to fix them and I've worked with him on a few items ("worked" as in I tell Joe how I broke it and he fixes it). It has the same type of functionality as you would find in the Force.com plugin for Eclipse. You can create/checkout projects with hooks into git/svn, execute anonymous, run tests (my favorite!) and deploy code to production. There's even an easter egg for Pacman while you wait for your code to deploy.
I've been using the plugin religiously for about two months now for Force.com development and rarely ever fire up Eclipse. Sublime Text 2 is not free but with the addition of Joe's plugin, I think it is a worthwhile investment in productivity.
Disclaimer: Joe did not pay me for this endorsement but I will hit him up for a free beer at Dreamforce.