Since last Friday, api tooling is now part of the SDK.
I encouraged you to give it a try and let me know if you find anything wrong. Don't hesitate to open a bug report against the API Tools component of the PDE product.
You can read the API Tools wiki to find out how to use it. All comments are welcome.
Also if you are interested by this project, we (Darin and I) will have a presentation at Eclipse con about the current work done for 3.4. Feel free to subscribe to the mailing list of this presentation to let us know your expectations.
The plan is to be in the next integration build.