When comparing PSPad vs UltraEdit, the Slant community recommends PSPad for most people. In the question“What are the best programming text editors?” PSPad is ranked 20th while UltraEdit is ranked 24th.
Specs
Question Ranking
Pros
Pro Integrated FTP client
Pro Simple and small
PSPad is simple, small, and lightweight. It's also quite fast.
Pro Free
PSPad is completely free to download and use.
Pro Code highlighting for many languages
PSPad supports code highlighting for several languages.
Pro Accented words
In PSPad, the user can add accents to words.
Pro Integrated HEX editor
Pro Handles large files (>1GB) extremely well
UltraEdit has small memory usage and allows for fast parsing/searching when handling large files.
Pro Probably the most versatile general editor in existence.
If you need a general editor, UltraEdit is the way to go. If you were writing C/C++ all day, then this would be your editor. If you need to slog through large files then this is your go to editor. If you need to go through XML files, then this is your editor. If you need to sort data, then this your my editor.
Pro Search and replace capabilities
From Ultraedit to Perl to Unix regex engines, the search and replace can accomplish just about anything.
Pro Nice hex display & edit
There's a handful of other features like this that make UltraEdit indispensable.
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.
Cons
Con Windows only
It's only available for Windows.
Con No code folding
Does not support code folding.
Con No content assist
Con Proprietary
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.
For some reason, the classic theme is the only one that is totally pleasant for readability well with syntax highlighting.