Contenteditable fails in many ways, but it's still something quite awesome and provides a good basis to build on. I built myself a wiki system because I find the current ones to be a huge pain to edit and I'm using contenteditable as the main tool. No need for separate editing pages, markup languages, or other nonsense - just click edit and make the changes immediately. I agree that contenteditable could have been way better, or in the very least more consistent between browsers.