Try messing with your eclipse.ini file to optimise things (located in your Eclipse installation directory). Mine looks like this:
Note: this is from a Windows version, and won't work for the Mac
-vm
c:/Program Files (x86)/Java/jdk1.7.0/bin
-startup
plugins/org.eclipse.equinox.launcher_1.1.0.v20100118.jar
--launcher.library
plugins/org.eclipse.equinox.launcher.win32.win32.x86_1.1.0.v20100118
-showsplash
org.eclipse.platform
--launcher.XXMaxPermSize
256m
-vm
c:/Program Files (x86)/Java/jdk1.7.0/bin
-vmargs
-Dosgi.requiredJavaVersion=1.7
-Xmn100m
-Xms512m
-Xmx700m
-Xss4m
-XX:PermSize=400M
-XX:MaxPermSize=500M
-XX:CompileThreshold=10
-XX:MaxGCPauseMillis=10
-XX:MaxHeapFreeRatio=70
-XX:+UnlockExperimentalVMOptions
-XX:+UseParallelGC
-XX:+UseFastAccessorMethods
-XX:+AggressiveOpts
But the important lines are:
-Xmn100m
-Xms512m
-Xmx700m
-Xss4m
-XX:PermSize=400M
-XX:MaxPermSize=500M
as these mess with the heap size, stack size, max memory that can be used by Eclipse, and so forth.
You'll need to retain some element of your eclipse.ini, just copy the bits you need into your own.