Tim,
MultiEdit is very powerfull, it even provides its own programming language, but it is not friendly. Its quite complex to learn it, unless you use Evolve (though it is also quite complex to modify it).
UEStudio is very friendly, so easy to configure it, and you can easily build projects managing multiple PRGs, C modules and RC (using it as a powerful visual make) or just build an EXE from a PRG with a single click on the buttonbar. It also provides UltraCompare to compare files.