Is this the right IDE for node.js or it's just a fast text editor? Can you guys suggest which IDE should be used for node.js?
Using the Chrome Browser with node-inspector has been very valuable for debugging node.js applications.
WebStorms is an IDE with a very strong debugger for Node.js built in. It's just like the traditional debuggers in Eclipse or .NET. It also has good support for things like CoffeeScript, etc. http://www.jetbrains.com/webstorm/
Maybe you should consider using a modern, open source text editor called Brackets, which has extension called Node.js Debugger.
To start using it first you'll need to install it from Brackets Extensions Manager. Then start your script with node --debug-brk yor-script.js or node --debug your-script.js
Go into Brackets and click on Debug -> Node.js Debugger or use Ctrl-Shift-I
More information available on the github of the extension.
Microsoft just released a new free & cross-platform text editor called Visual Studio Code, with built-in Node.js debugging capabilities that looks very exciting - https://code.visualstudio.com/
If you set up a new build system for sublime 2 you can run it with the ctr-B command. See: Build Systems
You could try the node.js plugin for eclipse which allows you to build node.js projects. I haven't used it in a while now but as far as I know you can just debug like normal using that.
You could give it a shot anyway, here's the link: