Configuring Eclipse for use with OpenCV was simple.
In Project properties navigate to C/C++ Build --> Settings
Add the following to the C/C++ compiler Directories: "/usr/local/include/opencv"

Then in C++ Linker section for the Library Search Path (-L) add: "/usr/local/lib" and in Libraries (-l) add: "cv","cvaux","cxcore","highgui".

And thats it.

Just don't forget to include the necessary headers in the code...
#include "cv.h"
#include "highgui.h"
#include "cxcore.h"
#include "cvaux.h"

NJOY!

Thanks