Aloha Editor, an HTML5 WYSIWYG Editor is the world's most advanced browser HTML5 based WYSIWYG editor lets you experience a whole new way of editing. It's faster than existing technologies and offers unprecedented WYSIWYG functionalities. see http://www.aloha-editor.org/. Our expertise allows it to be easily integrated into a Drupal 7 site and automatically creates permissions that can be assigned to specific roles.

All installation instructions are included in the readme file and a demo can be seen at http://inlineedit.venturacottage.com/

Just to clarify the Aloha Editor is free and Not distributed with this time product, what you are buying is up to 15mins of my time to help you add inline editing functionality to your site.

Please view this as a bounty - once we have $160 we will give it back to the Drupal community