Meh
I'm not one to talk about hand-coding, as I use Adobe GoLive CS for a lot of stuff, but I primarily hand-code using PageSpinner (mac) just because of syntax coloring
Not to say Notepad isn't worth using, but I get really really sick of downloading files from the server to do quick edits on a PC at school just to find it ignored all 100+ line breaks in the page I want to edit........
I must say I am partial to syntax coloring, as well as the somewhat more visual process available in GoLive et al. for very quick edits. Notepad as a simple dev tool is ok, but there are many better non-"cheating" methods of web design that are more efficient. Text editors with syntax coloring are still text editors and you're still hand-coding....