Eclipse is a powerful tool when it comes to working with larger applications. If you are just developing a standard Drupal web site, you might even get by without touching PHP, so Eclipse is just not necessary. However, if you are developing modules or doing heavy modifications to existing PHP templates, then Eclipse can become very handy.
While a text editor is perfect for a single file, Eclipse has the benefit of "understanding" the project around it. For example, you can find jump to function or class declaration.
If you are doing serious PHP development, you might want to consider nWire for PHP. It is a commercial code exploration tool for Eclipse that analyzes your code and assists in finding your way through it. It is a great tool for diving into complex projects.