I have shifted by Dev Env recently to Eclipse Helios on Windows 7. After that the Ctrl + Space Content Assist feature is not working. I found out that that key option is utilize
This is what solved my problem.
Goto Control Panel -> Clock, Language and Region -> Change keyboards or other input methods -> Change keyboards... -> Advanced Key Settings. For some reason I had ctrl + space set as Key sequence for language hot keys. I changed them to something else and rebooted.
Make sure to reboot because it did not work for me without the reboot.