i'm currently looking for the same kind of editor - lightweight, jQuery and with ASP.Net support. i've came accross Batiste Bieler's jQuery Lightweight Rich Text Editor which seems very simple, nice, pure jQuery lightweight editor.
and there is interpid studios variation that states to be ASP.Net compatible and based on the original above mentioned library (although, doesn't explain what is the thing with being ASP.Net compatible and what doesn't make the original compatible with it too...)
i haven't tried any of those yet, but it seems that i will in the next several days, because i'm looking to replace FCK Editor because it has some quirks and strange behavior to my app users. so i might update this post with my own experience with this/these editor(s).
If someone tried those already, please comment to let others know what do you feel about this.