@cookertron
In my case, I was using it as a replacement for MS-DOS EDIT, as TEDIT is smaller and is more feature rich. I have used it as a general purpose text editor for batch files, assembler projects and a bit of text here and there to tweak some configurations.
If it does not work out of read-only media or restricted storage space, it won't be much use to me, as flexibility in it is what I appreciate most. I often use bootable DOS CD-ROM images and have a set of bootable DOS disks for my machines which I usually update with the newest stuff I find or build myself.
For word processing I use other beasts (WordPerfect 6.2 and rarely MS-Word 5.5).
For high level language development I use their own integrated/built-in editors which are always better customized for the job at hand.
In the end it depends what YOU want TEDIT to become.