Palladio-Bench is now available in the Eclipse Marketplace. The Marketplace comes with an easy-to-use install procedure for existing Eclipse installations.
The Eclipse Marketplace is a platform accessible via browser and from inside Eclipse that lists Eclipse solutions.
Palladio-Bench in the Marketplace (or just search for "Palladio")
If you have an Eclipse with the Marketplace client installed (all Eclipse IDEs except the classic package), you can simply drag-and-drop the install button from the marketplace site to the workspace, and Palladio installation starts. Currently, the Marketplace links to the 3.3.1 release, so use Eclipse 3.7.
Feel free to play around with the marketplace entry and let us know if additional Palladio information should be put on the marketplace.