Thank you devilcius for the work!
I don't have any fully working setup, but some thoughts I can share.
For dependency management we switched to poetry, so the local.txt should be only available in the stable branch and will be gone with 1.3. But luckily poetry 1.2 is out now and support Dependency-Groups, which can be used to have the same behavior like we had with the different dependency files.
To have the debugger in the docker compose environment, the best would be to map the port on localhost. This way docker would make sure traffic to localhost gets forwarded and you can simply hard code localhost:5678 in your debugger settings.
There is something I am thinking about for a while, maybe it would be better not to develop in a docker container, if its not required. Its an amazing setup when it comes to working on the federation code, but for the day-to-day work this might be overshooting and it would be totally possible to have the backend or the frontend running locally while the other services are available in docker. This would make it easier to attach a debugger as well, although we would need to take care for this dev setup as well. As I said, I am still thinking.