One of our local breweries here makes an all El Dorado IPA that I will drink occasionally, but I don't particularly care for it, for precisely the reason you mention.
It lacks the bitterness to counterbalance the excessive watermelon jolly rancher like sweetness that comes from that hop. I don't like it.
If it were me, i'd use something sharp in the bittering like chinook or apollo, or maybe even columbus to balance that out. But that's just me, if i was forced to use El Dorado.