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Pro Handles large files (>1GB) extremely well
UltraEdit has small memory usage and allows for fast parsing/searching when handling large files.
Pro Works perfectly with remote files
Supports several protocols for accessing remote files and working on them with the same ease as local files. Files can be integrated in the projects as normal files.
Pro Fast, stable, easy to use
Pro Extremely customizable GUI editor
UltraEdit offer the best of both worlds. it has a full on GUI along with all the shortcut commands you need. There's no need for the user to suffer 80 char limitations of a terminal editor.
Pro Highly flexible
UltraEdit allows you to handle groups of files as a project
It's not free and a license costs $79.99.
Con The themes introduced in version 20 regressed certain aspects of syntax coloring
The themes simplified the syntax highlighting which lost the capacity to have as many colors as one wanted to define. Now it is limited to around 20 different colors. In general it's not a problem but in certain cases it broke coloring.