Thanks for your reply. I've tested this against vim, emacs, notepad++, kate, and gedit, perl, and sed (redundant, I know). Each one of these performs the replacement the way that I proposed as 'correct'. This may be an issue with the underlying libraries that sublime is using, however I believe it is still an issue. Many editors (Visual Studio anyone?) play fast and loose with Regular Expressions, and while sublime's find and replace capabilities have proved quite nice thus far and I don't see it going down that path in any way, I would just like to make sure that this problem is known so that it can be addressed.
I know that this is a little bit nit picking on my part, but to me a good regex find/replace is the most important part of an editor hands down, and since sublime isn't cross platform (yet), I don't want to have to remember any special cases about regex evaluation that will need to be applied differently across the editors that I use.