Wysiwyg editor options 4.1+
 

There was some talk a couple of months ago concerning vB swapping out the in-house editor for something along the lines of CKEditor (or something like that).

If there is a javascript library switch in the works (from yahoo to jquery), I've come across something that also looks promising:

http://premiumsoftware.net/cleditor/

Cheers,

Regs.