UltraEdit is the ideal text, HTML and HEX editor, and an advanced PHP, Perl, Java and JavaScript editor for programmers. An industry-award winner, UltraEdit supports disk-based 64-bit file handling (standard) on 32-bit Windows platforms (Windows 2000 and later). More info »
I'm a long-time user and think you get what you pay for. Though it has some quirks, it's a very power editor for both source code and very large text files.
I use UltraEdit as a text and HTML editor. It can be setup to colour code the HTML code and this makes code level editing much easier. Search and replace is about all I do with it so I can't speak about using it on programming code.