Well, if you're talking about the 2 editors, i'd recommend you to try both and see, which one suits you best.
tywiggins editor's obvious momentum advantage is that it allows to edit more parameters. But keep in mind, those things, available in REDitor, were decoded and implemented in just one weekend. So, if i had enough time these days (mid-terms're taking most of it), i would be probably as far, as a mongolian horse (read about them in Wiki ).
Moreover, there are no any trial periods for using basic REDitor functionality.
The other thing is interfaces, of course. An experienced user of REDitor II, especially if he owns Developer's Interfaces license, can easily create big mods in relatively short periods of time. Unfortunately, i can't say the same is possible with ty's editor. Different filters, Global Editor, easy movement between different parts of a single file and between files, copy-pasting several values at once, ability to copy-paste ranges of cells from/to other applications, like MS Excel, and much more functions are already implemented in REDitor II, waiting for you. I was thinking of creating a more casual-friendly GUI as well.
Anyway, my general recommendation to all of you is to hold your money for another 3-4 weeks and then decide, what editor you'll like more.
It is already there, mate; available for all supported file types (NBA, MLB). You need Developer's Interfaces license to get Global Editor available. But, as i've said earlier, i'd recommend to hold your money to see the obvious advantages.
Anyway, it's your choice, of course: you can already get it and use to globally edit the already implemented parameters and use it in future to edit new available things, when they "appear".