I always wanted to have this as a default feature for pages but due to low priority it is not implemented. There was one plugin long back but it is not available now.
@Scott, @pupi1985, please see if you can add this feature in v1.8. It will be nice.
This was the featured I suggested in 2011, as a top 5 required features. Almost 6 year back. :(
5. WYSIWYG editor to edit pages.