The only issue with using a CMS vs. a WYSIWYG editor/site mangement tool is the loss of formatting control. Drupal will understand inserted html tags in postings when they're being created, but I don't really expect any potential contributors to the site to know HTML...
Luckily, another 3rd part module - TinyMCE - gives a nice solution, with formatting buttons that you would see in a text editor like Word...
I've just installed an tested it, but it seems, I haven't enabled it on the blogging module - which means I can't even try it on this post... Let me see if I can address that!