I have a new machine at home running Windows Vista and have been racking my brains trying to get my files transferred and my desktop set with all my DEV and research work. I have installed Eclipse Europa (3.3) and was ready to install Flex Builder 2 as a plugin.
With Europa successfully installed, I fired up the Flex Builder 2 plugin installer and was presented with the following …
Please choose an existing Eclipse folder (3.1 or greater) to be updated. This folder must contain eclipse.exe and the standard folder named “configuration”
I clearly met these requirements, but still it would not pass this point of the installer. So I decided to Google this issue and Voila!
Eclipse Europa (3.3) will not work with Flex Builder 2!
Instead you must download Flex Builder 3 BETA version or install Eclipse 3.1 or Eclipse 3.2 with Flex Builder 2.
Hope this saves somebody else from the same fate!

Thanks! I had the same problem on my mac.
Downloading Flex Builder 3 Beta 3 now.