I use PSPad. Tried Zend Studio, tried Dreamweaver... can't break away from PSPAD though.

I have my team use Eclipse + PDT + Subclipse

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Personally I've been a TextPad user for the last 6 years. But in taking up Zend Framework I'm experimenting with Zend Studio right now.

Since I'm seeing a lot of Eclipse users on here, could anyone comment on the pros/cons of Eclipse compared to Zend Studio?

Pros for Studio Eclipse:
* You can mix in plugins for just about anything else you might want. One IDE does it all.
* Its ultraportable, you get the same interface and tools regardless of your chosen platform.
* Support is easier to find via the eclipse community.
* Eclipse is free! (tho Zend Studio is not u_u).

Cons for Studio Eclipse:
* Its got a steep initial learning curve if you are not familiar with full featured IDEs.
* Zend is still a little buggy (compared to the non eclipse version) as its relatively new. Things are getting much better however.
* It costs real dollars.

Pros for Studio 5.5+:
* It's a bit more stable than Studio for Eclipse.

There's prolly more, but that's what stands out in my head

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Seeing how you actually asked for a small 'notepad replacement,' I'm going to be totally crazy and be the only one in the thread to suggest a few:

Osx: Textmate
Windows: Intype


But, personally, I use Zend Studio for Eclipse for my heavyweight stuff.