CKEditor is new favorite rich text editor however I prefer to use the WYSIWYG module because it seems to have better media module support. This module, however, is needed if you plan to use the Scald module. If unsure, then I suggest using the WYSIWYG module instead.
When you grab the ckeditor library from http://ckeditor.com/builder, use a custom build starting with 'full'. Make sure to add the Shared Space plugin, the Widget plugin, Line Utilities, and the Table Resize plugin. Also get the Source Dialog if you will use the 'view source' button. (as of CKEditor v 4.3.1 and Drupal module v 7.x-1.x-dev - 2013-Sep-30)
Put the downloaded files in sites/all/libraries so the structure is like sites/all/libraries/ckeditor/ckeditor.js. Remove the samples directory.
Be sure to change the CKEDitor global config (admin/config/content/ckeditor/editg) so that it points to the local file by changing the path to %l/ckeditor in the "Path to CKEditor" field (not the Local path to CKEditor)