Request to the CKEditor development team:
Can you summarize the pro's and con's of using the new div-based editor as compared to the traditional iframe editor for a regular (not inline) rich text editor application?
I do notice that (at least in the "Response" editor for an already existing post, did not check the one I'm typing in now) you appear to be using the div-based editor. So you must have a high degree of confidence in its stability and reliability.
Thanks.

I discovered that when I put
I discovered that when I put some alerts in the js using the CKEditor in the div editing mode, in Firefox when I clicked into the editable area, a second toolbar appeared (all items, not just those selected in config) and partially covered the area. Further, I could click on those items and initiate actions (some of which I do not want to enable).
So I guess for awhile I stick with iframe.