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Eclipse's editor, as well as the editor in Netbeans will notify a user of unused variables. However, in Eclipse's editor, if you put an @SuppressWarnings("unused"), the editor will pick that up and not display that warning any more. Netbeans should be aware of annotations and highlight warnings accordingly. Also, I would like to see more warnings about unsafe casts and such...the things that you get with the compile option -Xlint:unchecked. And, of course, the corresponding annotation to suppress those warnings would be honored.
Reassigning to editor.
Thanks for filing the issue, lets focus it for 7.0 as an enhancement.