Thanks again Daniel,
I did use the wrong dialog. In the meanwhile I can create a project for the LPC1769 that compiles ok.
When I create a "Run configuration" for the .axf file and click the run button, the axf file is rebuilt and nothing else happens. Do I need to install/setup a separate programmer, or did that come with the IDE?
The IDE does not even complain when I leave the development board unconnected!
I have been searching the NXP site for documentation but except for the LPC3154 schematics I couldn't find any "getting started" documents for this board. I hope you have the patience to get this noob started