Karsten,
7.5 actually was released via the update site to production Friday, so that is 7.5 GA you are seeing — we’ve been vetting new installers to make sure they work in all scenarios (new installs and updating of existing ones) as well as on all platforms. That took some more time and we didn’t want to block 7.5 updates on that.
Also the bug of being forced to pickup all updates is a p2 bug that we inheritied unfortunately and will get fixed in 8.x — right now you cannot veto a pending update, all software updates must be accepted as a single job — unfortunately that means a tiny update like Subclipse can also potentially suck down a huge update like MyEclipse 7.5
The good news is that there is a lot of good stuff in MyEclipse 7.5 🙂