I prefer nano (
http://www.nano-editor.org ), when compiled with line-wrap disabled - it's a lot like pico, but the lines don't do the 80-column wrap nonsense, and it adds a few features, like search and replace, auto-indent... What I would ideally want would be an editor simple like pico, but with line wrapping like emacs - wrap the text on screen without wrapping it in the actual file.
Emacs is a well-written editor, and nice to use in absolute bare-bones text mode, but I hate how it tries to know everything for you - "Oh, you're editing a .html file - I'll disable your tab key; you would never indent html source for legibility, would you?" "Oh, you're editing a C source file - I'll change indentation behaviour completely, so you can only indent the way Richard Michael Stallman thinks is right." "Oh, you decided not to save. I'll litter your harddrive with stupidly named backup files anyway."
Even the emacs FAQs are arrogant:
Q - How can I disable automatic file backups?
A - You don't want to do this. Why not just use GNU ls, so that emacs backup files are hidden from you by default ( so RMS, hallowed be his name, can clutter up your computer however he wants, and keep you in ignorance )? However, if you absolutely must...