I have shifted by Dev Env recently to Eclipse Helios on Windows 7. After that the Ctrl + Space Content Assist feature is not working. I found out that that key option is utilize
This is how I fixed my problem on Ubuntu 12.04 regardless of the eclipse version. My problem was that the ibus was overriding the shortcut so I deleted this shortcut configuration.
Type ibus in the dash:

Then select Keyboard Input Methods. From there click on the first three dots next to the Enable or disable textfield. This windows should appear: 
If there is something bound to Ctrl + Space simply delete it.