Canvas for a Text Editor?

Canvas for a Text Editor?:

The HTML 5 specification includes an API to render text on a canvas. Unfortunately, this portion of the canvas API has only been implemented by Firefox, though it's already in WebKit nightly builds (and thus will very likely be in a future version of Safari) and Chromium nightlies (from which Chrome versions are derived). We expect Opera will soon as well.

Support for canvas text in browsers other than Firefox will be a great thing for web applications. I've built 2D chemical structure viewers using Canvas, and the clunkiest aspect has been the overlaid text divs for atom labels. (Thank goodness for TextCanvas. Without it, I wouldn't have made the effort.)

You don't really notice text overlays are being used unless you accidentally click-drag your mouse over a depiction, or you set your browser preferences to disallow text smaller than a set size.