Not really a success story here...
I downgraded to 3.7 again because the performance of 4.2 is really bad.
I didnt't tweak anything in eclipse.ini in either version, but 3.7 runs A LOT smoother with the same (quite big) workspace.
I was looking forward to "Code Recommenders" plugin, but deinstalled it after a few hours. It was kinda annoying, perhaps you have to use it a longer time to get used to it.
Xtext 2.3 is important for me, but I can have that in Indigo too.
The new layout is ugly, but thats just my opinion. Other people seem to like it... But apart from the looks, it was really slow and laggy for me when resizing or moving views.
There were some other minor bugs, perhaps my fault, no idea, but in the end I'm happy again with 3.7 :-)