As an enthusiastic Emacs user I can say that Sublime Text is one of the best text editors out there, together with Emacs and Vi-family. I've only sporadically used it but it's really nice. If I was using my "text editor" only for text-editing (I use Emacs apps like Gnus, Elfeed and Org-mode, and really enjoy Elisp and the programmable environment it provides), I'd definitely use it.
One thing that I don't understand is though, when I buy ST, what do I buy? I've only seen others use full versions but as far as I can tell it's only the [UNREGISTERED] bit in the titlebar and the random "please buy me" popup. It's understandable that one would pay merely to sustain its development but is there any actual differences?