+1 for TinyMCE. I never liked FCKEditor, though I have used it in the past. Another one I recommend (it has more plugins than TinyMCE, and it's faster than FCK) is Xinha. TinyMCE lacks an uploading extension (there are a couple, but they're not free). Otherwise, it's great. It's also pretty easy to extend it.
I have optimistic thoughts, even though sometimes (if not always) life's a bitch.