Chip…I am currently running WP 3.1.3 and I have tried implementing your code to allow iframe in the editor, but I continue to get an error for that line of Code when I update the functions.php file.
I am not a pro at editing php files and wanted to make sure exactly what file and place should I implement this function. Any help would be appreciated.
I have tried implementing it on the functions file (/wp-includes/functions.php) on line 2844.