Computer Games Online have posted a preview of Dungeon Siege's Siege Editor. Here is a snippet of the preview:

Dungeon Siege, coming this year from Gas Powered Games and Microsoft, is an action RPG with the inimitable Chris Taylor (of Total Annihilation fame) touch. One of its highlights will be its editor, which is supposed to allow you to make your own games fairly easily. We recently visited the GPS offices to find out more. Just like the avid Quake player's desire for level-building capabilities, the Dungeon Master mentality is prevalent in today's RPG gamer. The whole notion of being able to customize the experience, populate it, and share it with friends plays a very strong part in the fun-factor for many people. Although everyone will be able to tinker with the Dungeon Siege Siege Editor, it will still probably be true that only 1percent of the population will actually create usable content for the other 99 percent. But that 1percent will have at its collective fingertips one of the most comprehensive level toolsets we've ever seen. It's not dumbed down, features are not being hacked and they're not going to try to get you to pay $12.99 a month to rent-a-programming-environment.