After about a month of using NetBeans (www.netbeans.org), I’m making it my main code editor/IDE. I’m writing code on both Mac OSX and Windows, so its nice to have one editor to use for both. The built-in CVS, Subversion, Mercurial, and file transfer tools is really good. The built-in syntax validation works decently as it will catch any missing semi-colons and brackets. Code completion works good with all the PHP functions listed and it will pull all matching functions in your namespace. Performance is a bit slower since its running on Java, but it should run ok on newer computers. Its also free, which is probably the #1 selling point.
My other editor NuSphere PhpED (http://www.nusphere.com) is really good for Windows-only development as it runs much faster, has a cleaner UI, full featured editor, built-in debugger, and other features. However, its priced around $200 and natively runs on Windows. You can get it running on Mac with Wine (or VMWARE). Its a great PHP IDE for businesses using Windows computers, but the price point is a bit steep for personal use.