|laziness, impatience, and hubris|
I suppose my editor(s) of choice follow my basic programming philosophy KISS, or as foopad suggests, LAW (Least Amount of Work).
Features I like:
Unfortunately, none of the editors I use have all of the things I want (there are several other things to add to the list that I can't think of at the moment). So I use Open Perl IDE and TextPad with Windows and Joe with Unix. I've never liked vi or Emacs, although I have to admit using vi to delete lines from or view large files (not much else though).
I'll also use Notepad, WordPad or Edit (Windows) if a quick or throwaway task is needed. I'm not adverse to trying new editors if they're practically free, easy to install, provide most of my listed features, have a short learning curve, and the keyboard shortcuts are not too disimilar from standard Windows apps or WordStar (though I've always hated WordStar with a passion, I at least learned most of the keystroke combinations).
I'm a pretty good typist so I don't really bother with macros. The other advanced features don't appeal to me either but I can see where other people might like them.
TETO! (to each their own).