PFE is a text editor for Windows.
PFE : notepad :: Emacs : pico
PFE has a few more options than nedit, although it can't change colors based on keywords and such. Note: the author of PFE has stopped working on it, and says there will be no more. Since PFE was closed-source, no more updates. :( At least nedit is open source, so it keeps getting better, and better, and better...
Although Emacs is more powerful than PFE and can do syntax-coloring, I like PFE better. (And now, to avoid an Emacs/vi[m] flame war...) Vim is also more powerful than PFE, but PFE is more like a normal Windows program in regards to its interface (dialogs and integration).
More recent editors, such as jEdit, can do everything PFE can do, but better, and more. PFE still is much faster, especially on old computers.