If you're on a Mac, I can highly recommend Intaglio. It is one of the tools I use on a daily basis, almost as essential to my workflow as LaTeX. The key feature that makes this so worthwhile to me is that I can throw in any vector graphics object (from Mathematica, from LaTeXit,LaTeXit, ...), and it will allow me to edit it without any complaint, and combine with bitmap images if I choose to. I was never able to achieve this level of flexibility with Illustrator.
I recall my pre-Intaglio days, when I would struggle trying to teach Mathematica to produce publication quality plots with LaTeX compatible fonts. With the combination of Intaglio and LaTeXit this is now a problem from the past.
The program has been in a steady state for many years, so don't expect new features, but I am happy with the features it has and there are regular new releases to keep up with changes in the Mac operating system.
At $89 it is value for money.