Here I often take too much time to go over my post to weed out typos, etc. Then when I finally go to make the post, I see that someone beat me to express the same thing. If I could edit the posts, I'd make a quick post and then edit it at my leisure. That is only one advantage of allowing editing. Most (maybe, all) boards that allow editing put a time stamp there of the last edit, indicating that editing was done.
The negative thing about editing, of course, is that post "A" could say something, then "B" makes an objection, then "A" goes back and fixes [edits] the objection, making "B"'s post look foolish --- unless "A" was a gentleman and spelled out what he was correcting/editing.
Robt.