To import an MMP or bld.inf file, choose "Import Project..." from the File menu.

The bld.inf import assistant lets you create an xcode project in a straightforward way.

After the project import has completed, you can edit it just as you would any other Xcode project...

...including editing build settings in the UI...

...and specifying target dependancies.

Building from the UI - Xcode does a detailed dependancy check (better than that of the Symbian command line
tools) to save rebuilding files unnecessarily, and errors are shown in the UI. Including errors in pkg files and DEF
files.
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A successful build - it's hard to show it in operation, but all the build steps will take advantage of a dual processor
machine to run multiple steps concurrently. Since compilation is something that is almost completely
parallelizable, you really do get builds taking half the time to complete.

Configuring Xcode to send your built SIS file over bluetooth is as simple as ticking the box...

... and errors are handled as you'd expect.

This was a quick demo of what the Xcode plugin can do and what it looks like. If you want to know more, download it and have a go :-)
Note these screenshots were taken with the 1.0 version of the plugin. 1.1 is different in a few details.