I've come across Netbeans but is there any tools out there that lets you build things event driven ?
I'm looking for a feature like being able to drag and drop UI components, and add methods to buttons directly by double clicking it (kinda like visualbasic) and viewing the source.
There's the Java Visual Editor.
This is nice if you're used to (or are considering using) Eclipse, which in itself is a very popular Java IDE.
IntelliJ IDEA features a nice GUI builder capable of using several layout managers. It's available in the open source community edition. I personally hate GUI builder and prefer more flexible solution like manually coding the layout with the all powerful and easy to use MiG Layout.