The editor works fine if it's just text and hyperlinks to other pages but if you're putting images, videos etc into the doc, then be prepared for a fight with the editor.
Yes, it may well be fine for the many (though I doubt it). For me, aside from the incessant 'massaging' of posts that I have to go through, it's the incredible waste of time involved. What should be a straight-ahead job turns into a fight with the editor and since 3.01 appeared another bug has been added to the editor.
Now it can't tell the difference between a p and a br, so now I have to remove blank lines after I've laid out the code in Dreamweaver correctly (I paste the raw html into Marsedit and upload to WP).
Now some are going to tell me I shouldn't use Dreamweaver to prepare content, but when the copy has lots of links in it, it's the easiest way to get it ready and it works for me and has done for the past two years (I put up a lot of posts, creative-i has getting on for 6,500 posts).
So I do hope the editor gets sorted soon.