- Syntax Highlighting for several languages (C, C++, C#, Java, HTML, CSS, Javascript, Python, Ruby, Lua, LaTeX, SQL, ...)

- Several color themes
- Infinite undo & redo
- Search & replace
- Auto & block indentation
- Keep opened files and changes between sessions
- Open files directly from dropbox or a file manager
- Character encoding support
- Keyboard shortcuts (List below)
- Share documents with other services (dropbox, email, ...)
- Preview HTML files in browser
- Bracket matching
- Go to line

Pro version only features:

- SFTP support (not FTP)
- Dropbox support
- Custom themes
- Run external commands through SSH
- Root mode

Shortcuts:

- Ctrl-N New Document
- Ctrl-S Save Document
- Ctrl-O Open Document
- Ctrl-C Close Document
- Ctrl-D Open/Close Document List Menu
- Ctrl-Z Undo
- Ctrl-Y Redo
- Ctrl-F Open/Close Find Menu
- Ctrl-L Go to Line
- F3 Find again
- Ctrl-Shift-N New Document (with encoding)
- Ctrl-Shift-O Open Document (with encoding)
- Ctrl-Shift-S Save Document As…
- Ctrl-W/Ctrl-E or Home/End Goto Line Start/End
- Ctrl-Left/Ctrl-Right Goto Previous/Next Word
- Ctrl-1 to Ctrl-9 Go to opened document

Using different character encodings:

- To open a document with a different character encoding than the default: long press the open file button
- To create a new document with a different character encoding than the default: long press the new file button
- You can make this behavior the default in the preference screen

Long pressing the save document button allows you to save a document with a different filename

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DroidEdit is specially useful for new generation android tablets with external keyboards like the Asus Transformer.

Try Hacker's Keyboard for a developer friendly virtual keyboard.

You should try the ad supported DroidEdit Free before buying this app. The ad free version has exactly the same functionality as the paid version except it doesn't have SFTP support, Dropbox support, Custom themes and root mode.