For grammar correction, miscelleanous fixing and easier forum updates, I personally think an Edit button would be extremely useful. It's just a suggestion, but of all the forums I have visited, Edit has always been one of the most useful options ever.
If I have anything to say about it, you'll only get a chance to edit within the first 5 minutes of posting. Otherwise someone could go off on a flaming rant, post all kinds of abusive stuff, and then edit his post to sound like the plot to Disney's Bambi movie. And maintaining edit control unless someone 'replies' to your exact message will lead to confusion as a simple user interface with a single "ost a reply" button is our ideal situation.
And he said this is planned as well. So let's find out...