Elhanan, no it doesn't.
If you can create a jira with details on what setup works better for you on 3.3.2 than it does for 3.4 then please do so and then we can look into it.
If you can record a screencast (see jing) of the two launches showing the spike in cpu usage even better!
Thanks.
the crazy thing, is that trying eclipse 3.4.2 stright from download doesn't take much as cpu usage as my full eclipse (with tptp, m2eclipse, ganymee log4j ,spring ide, mylyn,subclipse plug-ins)