>Anybody out there know of a better tool than microsoft Equation Editor 3.0 to generate equation text ? Specifically I want to place some formatted fractions into a Edit box. Any thought on how to super and subscript text in an edit box ? Any third party tools to do this ?

Not sure if they'll help or not, but you might want to try the tools available from WebEQ-

http://www.webeq.com/webeq/

and check outthe MathML XML standard for storing and displaying Math equations:

http://www.w3.org/Math