A few ways to do this, here are two:
You could install a WYSIWYG text widget, using something like this:
http://wordpress.org/extend/plugins/smart-wysiwyg-blocks-of-content/
You could also create an unpublished page where they can create/edit their widget content with the visual editor and preview it. You could then show them how to copy/paste the generated code into the regular text widget.
in general, are installing a # of widgets to provide what I need good or bad. i’d like to refrain from too many widgets installed to ‘tweak’ wordpress to do what i need, so wondering if there’s still another route?
You could create a second editable content area on the homepage only, but that’s more complicated.
If you Google second editable area wordpress you’ll find some methods for accomplishing this.
are installing a # of widgets to provide what I need good or bad.
I think it’s neutral, personally.