Have you seen Aloha Editor(http://aloha-editor.org)? Its behavior is built on `contenteditable`.
OT: Am I the only one annoyed by this "viewed best in Chrome" trend? Reminds me of those old "Best in IE" badges.
There was a jquery fundamentals website that had the same problem. To compound matters, Chrome font rendering is godawfully bad on my machine.
Did you miss the part where I said I wasn't talking about RTE?
I don't care that it's implemented using something which was introduced to build RTEs in the first place and has been used for exactly that for the past 12 years or so (which does happen to make contenteditable-based RTEs traditional, as are designMode-based ones, despite your apparent assertion to the contrary), my original comment is not about rich text edition.