Create sample web app project in Eclipse using m2eclipse

Make sure you have m2eclipse installed from the update site http://m2eclipse.sonatype.org/sites/m2e
Key here is to also install the m2e-extras which allows for WTP integration.
Install m2e-extras from http://m2eclipse.sonatype.org/sites/m2e-extras

In Eclipse
    File -- New -- Other -- Maven -- Maven Project -- Next

In the New Maven Project dialog select
Group Id: org.apache.maven.archetypes
Artifact Id: maven-archetype-webapp

Provide a GroupId and ArtifactId for your project and thats all there is to it.