Today i managed to implement TinyMCE Editor with MOSS2007 using the instructions in these articles:
and found out some pros and cons between them and would like to share them.
Pros for using the Telerik editor are:
Telerik integrates well with the SharePoint for finding files within the SP lists.
Cons for using Telerik:
You need to activate the telerik feature per web in order for it to appear which might be a long process if you have a large number of already provisioned webs.
Pros for using TinyMCE:
Open Source, and easier to configure
Cons for using TinyMCE:
It is harder to integrate with SP file system. MCFileManager is needed to intgrate it with SP lists.