To locate it, right-click on the Eclipse Application icon and select "Show Package Contents", then double-click on the "Contents" folder and then double-click on the "MacOS" folder, the home of eclipse.ini. You can use Applications->Text Edit to change the eclipse.ini file. :) Usually you want to adjust the heap settings.
Many times your mac software works mainly with firewire enabled externals. Example, you want to boot from an external firewire enabled disk. Unfortunately, your external drive supports USB. There is no firewire support.
You look for a Firewire to USB adapter. Unfortunately due to the incompatibilities of the specifications, such an adapter does not exist. What a shame. :(