Is it possible to use eclipse to develop foobar components? If so, how can I setup the eclipse, and how to start with it (e.g. being able to compile the tutorial component)?

Compilers other than MSVC++ are (most probably) not compatible with the ABI; using Eclipse even just as an IDE would IMO need a great amount of work. Considering the way you ask, the simple answer is "no".

Then VC++ 2008 express will do the job? I'm currently installing it, hoping it will not expire.

Yes, that works fine.

(You won't be able compile the "ATLHelpers" project in the SDK - the ATL library is not included with Express versions. But don't be scared, it does not have any impact on the available fb2k API.)

Thank you Yirkha. I'll start cracking the SDK and sample components.