Recs.
Updated
A "next generation" Vim effort. Major overhaul to support more powerful plugins and better integration with tools such as IDEs.
SpecsUpdate
Pros
Pro Still Vim but with upgraded features and some issues fixed
NeoVim was a complete rewrite of Vim, with new features added and underlying issues resolved thanks to the Vim code base. The keybindings and configuration are the same as Vim, so the switch can be pretty simple.
Pro Better integration with external tools
The core text editor is "headless", meaning it's detached from the user-interface so other programs can hook into it. This enables better integration with IDEs and browsers, where "Vim mode" has typically been a poor substitute because it was a partial rewrite or a partial port at best. One of the advantages of Vim has always been ubiquity and Neovim makes it even more ubiquitous.
Cons
Con Consume brain energy for editing that should be used for logic
Text editing in vim can be great once you've learned it, but it requires thinking about combination of commands. In other editors, you don't have to think about how to delete this part of code. You just think about how to implement a feature, what is a good design for this code. Even after you get used to using vim, it still requires your brain for editing.
Con Requires Brain Mode Switching
When editing in vim, you have you use the vim keys; when editing in every other window on your PC, or in Word or Excel or other application, you need to use the standard system key combinations. Learning the vim combinations can actually make you SLOWER at everything else.
Recommendations
Comments
Flagged Pros + Cons
Out of Date Pros + Cons
Con No graphical editor yet
At the time of writing this, no equivalents to gVim exist.