Today I upgraded to Android SDK 2.3 and I also upgraded the Eclipse Plugin Androi Developer Tools 8.0 (from 0.9.9). I also upgraded my Java Development Kit to 1.6_22.
No
No need to create a new project from scratch. If "Fix Project Properties" or "Add Library > Android Classpath Container" does not work, "project.properties" file might be missing in the root of your project folder. Add that file and set the Android target in the Project properties, re-add the Android Library, Fix Project Properties again, Android System Library should now be included in your project. Rebuilt, and you are good to go!
From my personal experience. For self documenting as well, since this happens quite often on me:
Eclipse Helios SR2
Android SDK R.20
Android NDK R8b
OSX 10.7.4