RPi Development environments
Instead of just using a compiler and editor, you can use a complete image to create "development tool chains" which integrate compiler, build system, packaging tools etc. in one tool chain.
OpenEmbedded is a build framework and cross-compile environment for embedded Linux.
A detailed tutorial by emercer: http://cronicasredux.blogspot.com/2011/09/installing-and-running-debian-armel-on.html
Scratchbox is a cross-compilation toolkit designed to make embedded Linux application development easier. It also provides a full set of tools to integrate and cross-compile an entire Linux distribution. To find out what it can do, take a look at some of the documentation.
There is now an Oracle Virtualbox VM image with a scratchbox2 install inside.
More details and discuss: http://www.raspberrypi.org/forum/?mingleforumaction=viewtopic&t=454