NetworkManager, bridging and VPN

I cannot get this to work.

in /etc/sysconfig/network-scripts/ifcfg-eth0 as soon as I add this
line and save it NetworkManager stops managing eth0

BRIDGE="br0"

Then if I click on the nm-applet the VPN option is greyed out and
unclickable. It also shows "wired networks

[root@farina network-scripts]# cat ifcfg-eth0
DEVICE="eth0"
BOOTPROTO="none"
HWADDR="00:24:8C:6C:31:DF"
NM_CONTROLLED="yes"
ONBOOT="yes"
BRIDGE="br0"

[root@farina network-scripts]# cat ifcfg-br0
DEVICE="br0"
BOOTPROTO="dhcp"
#HWADDR="00:24:8C:6C:31:DF"
NM_CONTROLLED="no"
ONBOOT="yes"
TYPE="Bridge"
DELAY="0"

I don't see how this can work?

I thought about letting eth0 do dhcp and that worked, but as soon as i
enable BRIDGE="br0" in ifcfg-eth0, network manager stops managing it..
(check the screenshot)

I wonder if I create the bridge manually if networkmanager would work on eth0.