I am evaluating PHPed and Zend Studio for the development department of my company, and both products seem to have some significant advantages and disadvantages. We are in the process of switching over to PHP5 for a more object oriented approach, and from what I can tell, Zend does have the advantage when it comes to OOP highlighting in general, and PHP5 stuff in particular. Is there something in the works to support PHP5 more fully? I have been very impressed with PHPed, and have had much better results using DBG than the Zend debugger.

Any input would be much appreciated.

Actually, you may add words such as protected, private etc into the list of reserved words for php syntax and they will be highlighted. No problems with this so far. (see tools->settings->reseved words
Debugger supports php5 w/o known problems.
Code Insight will support php5 in the next version which will be released soon.