Part 2 for getting CF Builder 2 to work for my needs.
I use Subclipse for almost all my projects, as pretty much everything is hosted on my Subversion server. I've never had issues installing Subclipse before so this was new to me. I ran into the same exact problem as found here http://mineer.blogspot.com/2010/01/coldfusion-builder-beta-3-and-subclipse.html (Subclipse won't all you to click the license agreement), but again no resolution that I could find.
This was much simpler to resolve. It looks like some dependencies aren't being met for Subclipse. I added the site for http://download.eclipse.org/releases/helios to the list of software update providers (Help -> Install New Software). I grabbed everything from the collaboration packages, but you can probably get away with just the missing ones. The Subclipse install tells you which these are, but to err on the safe side, I grabbed everything.
After a workspace restart Subclipse installed just fine. I'm now all set and ready to test everything builder has to offer.