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Usually TextEdit for basic word processing. If you click that link you'll see that it's quite a capable little word processor. I like it because it's super fast, uses like no memory or processing power, and is already installed on every Mac.

If I'm doing something more advanced, then Pages, which has just carried me through my entire Junior year of college. Some of the stuff I create in Pages amazes even me, and my professors and classmates agree.

Pages is kind of a dog though with huge documents (30 pages or more). Thankfully I have a Mac Pro.
 
DEVONthink isn't really a word processor by itself :) It just uses the standard TextEdit-ish wp code. But I still use it for the vast majority of things I write because of all of its other features. Other things (essays, etc) I just use TextEdit.
 
Question about TextEdit

confused: I use TextEdit for all rough drafting. Just too quick and easy to ignore. BUT, I have never been able to find an explanation for the "quirk" in it where the key-command for increase font size is listed as command/+ in the pull down, but is actually shift/command/+ (decrease is properly listed as command/-). This is under Format/Font/ Bigger & Smaller. Could Apple have possibly missed this from the beginning? Can anyone ease my mind here?

MacBook Pro 2.0 (one of the first batch shipped – and yes, I do have to run SMCFanControl)
 
confused: I use TextEdit for all rough drafting. Just too quick and easy to ignore. BUT, I have never been able to find an explanation for the "quirk" in it where the key-command for increase font size is listed as command/+ in the pull down, but is actually shift/command/+ (decrease is properly listed as command/-). This is under Format/Font/ Bigger & Smaller. Could Apple have possibly missed this from the beginning? Can anyone ease my mind here?

MacBook Pro 2.0 (one of the first batch shipped – and yes, I do have to run SMCFanControl)

In order to type a plus, you have to hold down shift. If you don't, the key command would be Command =
 
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