solrac - the edit command under the file menu does not have a shortcut. In other apps (anarchie, NetFinder and others) when you select to edit a file, the file is downloaded to a temp directory in the local drive and that temp file is opened in BBEdit (some FTP apps let you select the editor) then every time you save the file, the FTP client uploads it in the background.
This is the functional equivalent of the edit selection under the find menu. Nothing beats browsing to a file, selecting it and hitting a key combo to have the file "open" in BBEdit.
I usually do this when developing php web site. I usually, need to save/see results hundreds of times. I like to do something small, refresh the browser and see the changes...
Maybe other people can, but I can't write hundreds of lines of PHP flawlessly without checking the output.
right now, I have a site that's maybe 20% done (db functionality only, it looks like crap) so far the php library is over 1200 lines long (no word wrap). The edit functionality in transmit is no match to BBEdit (I wish BBEdit let me split a window into n number of sections rather than just 2).
as to the finder's FTP, it is read-only. I just tried it.