Reading through the features, it looks like Espresso will be a hybrid application that combines many of the coding-friendly features of BBEdit or TextMate with the great UI and navigation of CSSEdit (to include CSSEdit’s live preview functionality). It also offers built-in publishing tools. It is geared towards web development, so it will surely be a strong Panic Coda alternative as well. Can’t wait to test it out.
I’ve signed up for the beta.