this option is called "Allow cursor positioning beyond line end". Works like a charm.

Excellent, I thought maybe I was just missing this. I can't believe how hooked I got on this feature.

Yeah, it's terribly useful. One of my favorite features of Ultraedit. Although with the work I do, I find myself needing to turn it on and off regularly depending on the type of file I'm editing. There are times when I depend upon this feature being off for certain tasks.