I come today to sing the praises of Crimson Editor, the best FREE text editor I've been able to find.
I found Crimson Editor several months ago when I had several MRTG scripts to edit and update. It will search and replace across many files, does syntax highlighting for HTML, C/C++, Perl, Java, and other languages. You can even create your own custom syntax files. It also does spell check and supports macros.
Crimson Editor loads in a heartbeat, and has so far been compatible with everything I've loaded it on, from Win98 to Win2K3 server. I've been using it for four months now, and couldn't live without it. Ok, I could live without it, but I wouldn't be happy.
While we're on the subject of editors, who remembers Multi-Edit, from back in the days when it was the best DOS editor around? It's still out there, and is still the hands-down champ if you're a little more willing to fork over the dough for it. But then again, if you're a heavy duty programmer that needs something that powerful, then you can't afford to be without it. Too much for the little that I edit, but recommended for hard-core programmer types.