The cross-browser rich-text editor implements the Mozilla Rich Text Editing API included with Mozilla 1.3+. There is NO LICENSE, so just take the code and use it for any purpose. This code is 100% free. Enjoy!

Requires: IE5+/Mozilla 1.3+/Mozilla Firebird/Firefox 0.6.1+ for all rich-text features to function properly. If browser does not support rich-text, it should display a standard textarea box.

Yes, it works quite effectively.. it's not perfect, but it'd be hard to rewrite a full-blown WYSIWYG editor in javascript. There's a demo at the link, or you can see a more visually appealing (meaning less crap, larger editing area) here.

note: Don't bother clicking the submit button on the site's demo, it's useless. Use the "View Source" checkbox instead.