For tracking the tasks for my GSoC, I decided to use the Google Code Issues . I also want to use Mylyn to manage these issues, right on my eclipse. Here is a blog on how to hook up mylyn with google code:
Using mylyn with Google Code - Updated for Eclipse 3.4 (Ganymede). The blog is a little out-of-date (step 8, 9 are not necessary any more).

Here is a look after the setup.