I agree with Warren.
My2c:
Moving to Indigo with m2e feels more than strange! Not only you have to add lifecycle mappings polluting your POM also some of the most basic Maven build menu entries are suddenly missing. For what reason? I think I understand the intention behind the lifecycle mappings regarding broken project setups requiring you to re-enable Maven dependency management in order to resolve Eclipse's project configuration, this really was a pain sometimes prior to Indigo.
Now it is even strange that you no longer "Enable Maven Dependency Management" but convert your project into a Maven project via "Configuration", I really had to search for that. Also both menu entries "Update Project Configuration" and "Update Dependencies" open the same wizard and seem to do nothing in case m2e was confused because of missing lifecycle mappings.
Long story short: I'd stick to pre-Indigo until some of these unclear design decisions are revised.