Was really bored a couple of months ago, so I wrote rich text editing with a friend. Just posting this if anyone wants a simple rich text editor that can be coded easily for their site.
It works in IE 7, Firefox 2 & Opera 9.
http://seekond.com/scripts/richtext.html
Edit to your heart's content -- just please don't remove the notice =)
Btw -- at the top, it includes something called zoodles -- ignore that. It's not required for the script at all, except for one part, and you can edit that out.