I am quite troubled as this shouldn\'t be causing me such a headache. I\'ve downloaded the most recent Eclipse Indigo and all CDT C++ plugins for MAC OS X 10.7.1/<
For those of you that are new to programming/eclipse/IDEs and get the same error but the solutions above don't work, I solved my "Launch Failed. Binary Not Found." error by doing the following: Simply be sure to build your project ("Project" > "Build All") before attempting to run or debug. I was thinking that the IDE would do the building when I clicked debug or run, but that is not the case (obviously, in retrospect). Newbie lesson learned. Once you build you should see a "Binaries" and "Debug" folder under the root directory of the project.
I was using OS X 10.7.3, if it matters, though I assume the mistake I made is fundamental and any eclipse distro would give the same error.