Hi there people,
I came off Dreamweaver MX about 5 years ago, and went back to using a plain text editor, I got fed up of feeling like I wasn't in control of what I was producing. I have been using TextPad for ages now, and because I am so used to it, I doubt I could go back to a "Bells and Whistles" type of GUI.
One definite benefit of not using a big application is drainage on memory, little text editor won't take much space up ;)
Having said that though, it's all down to preference, and how you like to code, and your coding style. Everyone is different.