I do not have problems with backups. If it's being restored to the same version of MySQL that made the backup, it generally works.
Though I haven't deployed a MySQL 5 app, so I don't have experience with any bugs related to backing up triggers. Are you using the latest MySQL 5 release? I think there have been ongoing bug fixes related to backups and triggers and procedures.
For examples, see:
http://www.google.com/search?q=site%3Abugs.mysql.com+mysqldump+trigger
What specific errors are you getting? Can you give more details about the error message and the line mentioned by the error (a line or two prior to that line is often useful info too).
Also, what options are you using when you run the mysqldump?
As for editors, yes a 200MB file is a strain for most text editors. When I need to edit something in a large dump file (I've never had to fix any syntax, just reformat newlines and stuff), I use a non-interactive stream editor like sed or perl. Perl can process a 200MB file as a light snack.
Regards,
Bill K.