No- They are cool features. I see them on other boards and they work well. Putting inappropriate videos up gets the same punishments and inappropriate posts. Up to and including banning and nuking.
Usually posters have a very limited time in which they can edit posts. No more than 24 hours. Also it is very common for the software to put a notion on that persons post that it was edited. Sometimes there is even a “Reason” box that can be filled out and added to the post.
I stand by my reasons, but it's not up to me.
I just don't think they are necessary.