In the various role definition and assignment pages, a creator is defined as "Course creators can create new courses and teach in them."
While this was true with versions prior to 1.7, looking at the current default permissions, it is obvious that the editing teacher role allows for many capabilities that are not allowed for creators.
The common thinking of Moodle users (administrators and teachers) is still that there is a hierarchy starting with "Administrator" and going down to "Guest" with a decreasing number of capabilities at each lower level, but NEVER for a lower level to have capabilities that a higher level has not.
While the new structure might be reasonable and preferable, the definitions need to be amended so that they do not mislead users. (If this line of thinking is correct, then the documentation also requires amendation.)