We, as moderators, often have reposted anonymous or otherwise sound posts for people who have made genuine slips that involved unacceptable rule-breaks. This is quite a chore for us but goes relatively unnoticed amongst the community.
There have also been times when we've looked at a post and thought, 'you know what, it's totally passable except for that one mention of a characters name' and have been forced to delete it over one word that could be removed without damaging the post.
As moderators, we see plenty of this. It's not in our nature to want to simply nuke everyones voice - we like chatter. It's a forum. And this editting stands as a tool for more polite, subtle and less head-achey (omg, forum nazi!!) moderating.
All of these posts seem to assume it would be applied liberally, bordering abuse. I'd like to think you're all trying desperately not to break the rules anyway and don't have a lot of reason to have the dreaded edit (or dredit as it might be known to cooler people) used on you. Rest assured, if you truly feel we do mangle a post you can always petition us to remove it entirely instead.
Yhorian