Thank you for all of your supports, I spoke with my Mentor yesterday regarding the implementation that I've had in mind. There are two solutions that I made with the differences of the steps that is made by the developers to create a Moodle project, and more control that we have over the overall eclipse plug-in. So, we agreed with that solution, but I have to delay the beta release date to Monday, June 16, 2008 (or less). That will allow me to focus on coding for about 1 week + my break time.
Please be kind because I'm in the weird quarter system, and am going to have final exams on June 2 - 7
Thanks all, please check out Moodle IDE project page to look up the updates and changes that I made.. Cheers
Grady