I post on multiple other sites. They all have edit facilities. Why would it be abused? With this modern forum software you've been able to get since, oh, 2000 or so, you get a little note that the post was edited, who by (poster or mod) and when.
I do sometimes get the feeling that the people who run this site don't actually look at any other part of the internet except for Facebook. No, Olivia, preview is not the same thing as post editing - you would expect to have that as well. Facility-wise, this place is a bit of a joke, to be honest.