Please do NOT create a project of any kind in the repo.
Create an "Android Application" project locally, in your own workspace (wherever that may be), then softlink/create links in your IDE from the repo into your own workspace for the following files and folders:
./src/
./res/
./libs/
./AndroidManifest.xml
Then, copy the project.properties file from the repo to the appropriate location in your workspace.
Please add ./libs/gag.jar to your project's classpath in order to use extended annotations.