I don't keep .classpath in the version control because if you give freedom for the developers to use any IDE they prefer, the .classpath isn't very useful to them. But if you have a policy that all the developers must use Eclipse, then you may want to keep the .classpath.
SCJP 5.0, SCWCD 1.4, SCBCD 1.3, SCDJWS 1.4
I do keep the .classpath (and .project) Eclipse files in version control. But I don't keep absolute pathnames in it. I define symbolic references for the items that are outside the project's directory so that people with different setups can participate with minimal effort and with no change to the project itself. Among other things, that means if I'm playing in a mixed Windows/Unix environment, which I've been known to do, I define TOMCAT_HOME as something like C:\TOMCAT on one machine and /usr/local/apache-tomcat on another. But the mappings are in each machine's Eclipse environment, not in the project, so the project ports.
I do likewise for IntelliJ, which has 3 IDE-specific files. However I only version-control the 2 that are user-independent and omit the one that contains my local workspace info (what windows are open and where I'm editing). I believe that's the ".iws" file. Putting that one in version control can lead to trouble.
An IDE is no substitute for an Intelligent Developer.