Major gaps for NWDS ESR perspective is really only closed in 7.5 SP02 as detailed below.
Best practices ESR in Eclipse - Part 1: Overview of new capabilities with 7.5 SP02
If you are on 7.4 dual stack, I think it'd be more productive to stick to the Swing-based clients. You can't use iFlow (big reason to use NWDS) and a lot of the ESR gaps are still not closed.