This update also brings in many of the cool new features of BBEdit 10, such as the iTunes-like document bar and more options for syntax coloring. TextWrangler 4 catches this app up with Mac OS X Lion with an updated interface and preferences, as well as features like full-screen mode. But if you need to edit, search, and transform text and HTML, TextWrangler is a well-oiled and efficiently designed machine. If you're looking for a word processor (i.e., something to create pretty or specially formatted documents), look elsewhere.
If BBEdit is a time-honored king among text editors, then TextWrangler is a worthy prince - always a short step behind BBEdit in features, but also always (amazingly) free.