I love to watch someone edit things live. Seeing them edit things twelve times after the fact is great. But sometimes you're not there to see the party, it would be nice to know a post was edited after the fact. Sometimes people edit things so other peoples comments appear out of context, or to hide something they were called out on. Sometimes they think of something clever in rebuttal minutes or hours after their initial lame comment. Other times it's mundane...
So I'm suggesting timestamps or a history like wiki's!
Because as we all know the internet is real serious business.