OpenWatcom hasn't been abandoned, though development has slowed right down and is considered the best choice for OS/2 specific programming, including device drivers. It is also the source of stuff like our system linker as we have the source and ilink was just falling down for big projects. Linking xul.dll was taking 3GBs of address space at one point for example.
As for GCC, the easiest way to install it is with YUM/RPM or better, ANPM, where the current version is 9.2.0. There's a bunch of other requirements ranging from GCC-C++ to libc and libcx and a bunch of other stuff for building *nix based stuff.
While you can just run gcc from the command line, usually makefiles are used.
As for editors, I'm only a hobbyist, don't really write anything, more porting and mostly just use FC/2's editor and sometimes eFTE/2