On our local techno forums, our board is setup so you have 5 minutes to edit your post. This is a good medium because a) it allows you to fix typos or inconsistencies and b) give you 5 minutes to really think your post over and determine if you really wanted to post what you did. From time to time, it eliminates people from becoming assholes or making remarks that sound better in your head than on screen. Plus within 5 minutes, how much backpeddling can you possibly do?