If I have ssh access, I use sshfs to edit remote files with my local copy of Sublime. I also set up a Sublime build system that calls the compiler remotely over ssh. After I set my ssh config to cache and reuse connections, it adds virtually no overhead. Builds are one keystroke, errors show up in the editor just like normal, and small builds can still be done in just a fraction of a second.

The only problem with this setup is that sshfs is bad at recovering from network errors. If someone made a version of sshfs that could automatically reconnect after an interruption then this setup would be practically indistinguishable from working locally, even on moderately high latency connections.