I usually use the cPanel code editor for quick touch ups and changes if I happen to be using the file manager, nothing major.
Just had a really bad experience with it, though, and now I think I'm just going FTP all the time.
During a save, the server connection went south. What was left of a very long page of code was nothing more than a header and a php include.
Luckily, I make constant backups, so not a major loss, but definitely a major reality check.
For those new guys:
Always make backups before doing any on-server editing!
Anyway, I'll also say awesome work to the Heliohost staff for getting things back up again after the power outage! You guys rock!