It's nice not having an edit button.
That way people can't post something inflammatory and then go back and change it and deny it. It forces people to own their posts.
I love no edit button. I’m a member (not as busy of course as I am here) on a few other forums and the edit button does allow to correct mistakes, but people can hide behind it too easily.
Here - what’s said is said, and can’t be unsaid; unless the Mods remove it of their own accord, or sometimes will if you ask pretty please...
If you have ever been on any of the more up-to-date forums, you would know this isn't an issue(e.g., the quote auto-capture function that edit can't erase). Also, more often than not the edit button is used to correct mistakes. Your concern is a non-issue and only helps to drag this once-fine forum down into the realm of has-beens.
JMHO