I decided to switch to jEdit. It's a good free code editor that provides many features VistualStudio is lacking in respect to JavaScript editing. VisualStudio is a wonderful development application. It's very powerful, but it was developed mostly to work with "major" languages (developed or supported by Microsoft - C++, C#, VB). It's pretty good when it comes to working with markup languages (HTML, XML, etc). When it comes to JavaScript, however, some of the features it provides are quite advanced (such as IntelliSense for some DOM objects), while others leave a lot to be desired for (region support, better parsing capabilities, etc.)

I found jEdit some time ago, but today in my frustration with VisualStudio I decided to give it a try and I don't think I can go back to VS now. jEdit has a lot of plug-ins, many of which can be used to support particular style of programming. Often regular expressions are used for configuration. This means it's possible to improve JavaScript editing just by writing appropriate expressions. I started off by adding region support to the script files I edit and it simplified working with them tremendously. In the next couple of days I will play around and see if I can squeeze out some more juice out of jEdit. Hopefully it will not disappoint me.

P.S. I'm still using VS for debugging. It provides the best JavaScript debugger I've seen.