lempkee,
I see your point about wanting to report a problem quickly but whatever option you choose, you are still dependent on a moderator reading it at their convenience (ie. may not always be somebody available to deal with complaint). I just think, that if someone has to go through more to make a complaint, it will make them think twice (and so reduce whinging) and will discourage irresponsible troublemakers who invariably seek out the easiest ways of annoying others.
However, fundamentally, it is up to all users of the site to take responsibility for their own actions and try not to become involved in mud slinging, destructive threads.
I think this site is very well moderated - there seem to be fairly heated arguments that are allowed to proceed and moderators exercise their powers to block threads quite rarely - this suggests that much thought goes into the moderation. As such, I think we can safely assume that most of the edited posts deserved to be edited. As someone already said, everyone makes mistakes and so there will be some poor decisions either way - this is something that we have to live with if we want the site to be moderated (I would have thought that very few people would favour no moderation!)
Blimey, someone should have stopped me ages ago!
I shall shut up now.