Having used both Mathematica.SE (which used this system from the start) and the previous editor on Community, I can say that this is a wonderful improvement!
I just have one suggestion for an improvement: the MarkDown source editor should really use a fixed width font. This is preferable for so many reasons: 1. spaces are very relevant in MarkDown, we need to indent with a specific number of spaces (the number also depending on whether we're in a bullet list) 2. code is always better edited with a fixed-width font (if there is't a complicated auto-formatting environment to help, such as the Mathematica front end)