Edit3: Additional information: I was able to get the Eclipse/pygame combo running on Windows... just not on MacOSX.
Edit2: Compiling from the shell also works.
After reading your three edits, it seems like there is an architectural problem. Since PyGame doesn't work on a 64-bit platform, you need to chose the 32-bit python interpreter in this case.
Go to Eclipse->Preferences->PyDev->Interpreters->Python Interpreter
and add a new 32-bit python interpreter. The path for 32-bit python interpreter would most probably be the same as your usual python interpreter except that the file is called "python2.7-32" instead of "python2.7" (if the python version is 2.7). So, for me it is: "/Library/Frameworks/Python.framework/Versions/2.7/bin/python2.7-32"
.
Once setup, you can either make it a default interpreter or chose it from
Project->Properties->PyDev - Interpreter/Grammar
when using PyGame.